.RUSSIA'S precious stone sector is struggling. On January 1st the G7, a team of wealthy countries, and also the European Alliance prohibited imports of rugged gemstones unearthed in Russia-- a third of the total drawn out worldwide in 2022. On January 3rd the EU added Russia's condition exploration company, as well as its chief executive, to its own sanctions list. This is actually the 1st phase of a thorough penalties plan: in March the G7 and EU will definitely disallow Russian jewels that have been actually reduced and also polished abroad. In September they will certainly launch an accreditation system to validate where precious stones were actually mined. These measures amount to the most significant modification to business in many years. Why has it taken so long to impose sanctions on Russia's gemstone sector-- as well as what impact will they have?