.RUSSIA'S precious stone industry is under pressure. On January 1st the G7, a team of rich nations, as well as the European Union prohibited imports of tough rubies mined in Russia-- a 3rd of the total extracted worldwide in 2022. On January 3rd the EU added Russia's condition exploration provider, and also its chief executive, to its penalties checklist. This is the 1st stage of an extensive sanctions plan: in March the G7 and EU are going to disallow Russian treasures that have been reduced and also polished abroad. In September they are going to present a qualification system to verify where gemstones were unearthed. These measures amount to the biggest improvement to your business in many years. Why has it taken such a long time to enforce sanctions on Russia's diamond field-- and what effect will they possess?