.RUSSIA'S DIAMOND industry is actually under the gun. On January 1st the G7, a group of rich nations, as well as the European Association outlawed bring ins of rugged rubies mined in Russia-- a 3rd of the overall drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's state mining business, and also its ceo, to its own injunctions listing. This is the very first stage of a detailed injunctions plan: in March the G7 and also EU are going to disallow Russian treasures that have actually been reduced as well as refined abroad. In September they will present a license plan to validate where gemstones were actually extracted. These solutions add up to the biggest adjustment to the business in many years. Why has it taken as long to enforce penalties on Russia's gemstone industry-- and also what influence will they possess?