.RUSSIA'S DIAMOND industry is actually struggling. On January 1st the G7, a group of rich countries, as well as the European Alliance prohibited imports of rugged precious stones extracted in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU included Russia's condition mining company, and its president, to its own decrees checklist. This is the 1st stage of an extensive injunctions program: in March the G7 as well as EU are going to outlaw Russian gems that have been reduced and also perfected abroad. In September they will definitely present a qualification plan to validate where gemstones were extracted. These solutions add up to the greatest change to your business in many years. Why has it taken so long to establish penalties on Russia's precious stone business-- and what impact will they possess?