.RUSSIA'S gemstone market is actually under pressure. On January 1st the G7, a team of abundant nations, and the European Association outlawed bring ins of rugged precious stones unearthed in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU added Russia's state exploration company, as well as its leader, to its sanctions checklist. This is actually the very first period of a complete sanctions system: in March the G7 as well as EU will ban Russian jewels that have actually been cut and perfected abroad. In September they will certainly introduce an accreditation program to verify where precious stones were actually unearthed. These solutions amount to the greatest modification to business in years. Why has it taken so long to establish penalties on Russia's gemstone field-- as well as what effect will they possess?