.RUSSIA'S gemstone market is actually under the gun. On January 1st the G7, a group of abundant countries, and also the European Association outlawed imports of tough gemstones unearthed in Russia-- a third of the total removed worldwide in 2022. On January 3rd the EU added Russia's state exploration firm, as well as its chief executive, to its injunctions listing. This is the initial period of a comprehensive decrees scheme: in March the G7 as well as EU will definitely outlaw Russian treasures that have actually been cut and refined abroad. In September they will definitely introduce an accreditation system to confirm where rubies were extracted. These measures amount to the most significant modification to your business in many years. Why possesses it taken such a long time to establish sanctions on Russia's precious stone field-- and also what effect will they have?