.RUSSIA'S DIAMOND market is actually under the gun. On January first the G7, a group of abundant countries, as well as the European Alliance outlawed bring ins of harsh rubies extracted in Russia-- a 3rd of the total extracted worldwide in 2022. On January 3rd the EU added Russia's condition mining provider, and its president, to its own sanctions list. This is the initial phase of a thorough injunctions system: in March the G7 and EU are going to disallow Russian jewels that have actually been actually cut and also polished abroad. In September they will definitely launch a qualification system to verify where rubies were actually extracted. These actions add up to the greatest adjustment to your business in many years. Why has it taken so long to enforce decrees on Russia's diamond industry-- as well as what effect will they possess?