.RUSSIA'S DIAMOND market is actually under the gun. On January first the G7, a team of abundant nations, and the European Union outlawed imports of tough precious stones mined in Russia-- a 3rd of the overall extracted worldwide in 2022. On January 3rd the EU added Russia's condition mining business, and also its own president, to its injunctions checklist. This is actually the 1st phase of a detailed penalties scheme: in March the G7 and also EU will definitely ban Russian treasures that have been actually reduced as well as refined abroad. In September they are going to present a certification program to confirm where rubies were unearthed. These steps amount to the greatest change to business in decades. Why has it taken so long to impose decrees on Russia's ruby field-- and also what influence will they have?