.RUSSIA'S DIAMOND market is actually under pressure. On January 1st the G7, a team of wealthy countries, and also the European Union prohibited imports of rough rubies extracted in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU added Russia's state exploration company, and also its own president, to its sanctions checklist. This is the first period of a comprehensive decrees program: in March the G7 and also EU will disallow Russian treasures that have actually been actually reduced and also fine-tuned abroad. In September they will definitely launch a license system to validate where gemstones were actually extracted. These steps add up to the most significant change to your business in decades. Why possesses it taken as long to establish injunctions on Russia's gemstone industry-- and what impact will they possess?