.RUSSIA'S DIAMOND business is actually under pressure. On January first the G7, a group of abundant nations, and the European Alliance prohibited bring ins of tough diamonds unearthed in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU incorporated Russia's state exploration provider, as well as its president, to its decrees listing. This is the initial stage of a detailed penalties plan: in March the G7 and also EU are going to disallow Russian gems that have actually been cut and refined abroad. In September they will definitely launch a license scheme to confirm where diamonds were extracted. These measures add up to the most significant improvement to your business in many years. Why has it taken as long to impose sanctions on Russia's gemstone industry-- and what impact will they possess?