.RUSSIA'S DIAMOND market is under the gun. On January 1st the G7, a group of wealthy nations, and the European Alliance disallowed imports of harsh diamonds mined in Russia-- a 3rd of the total drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's state mining business, and also its chief executive, to its own sanctions listing. This is the initial stage of a thorough sanctions scheme: in March the G7 and EU will definitely outlaw Russian gems that have actually been reduced as well as polished abroad. In September they are going to introduce a certification system to verify where gemstones were mined. These procedures add up to the most significant change to business in decades. Why possesses it taken so long to impose injunctions on Russia's precious stone field-- and what impact will they possess?