.RUSSIA'S precious stone business is under pressure. On January 1st the G7, a team of rich countries, as well as the European Alliance disallowed imports of harsh precious stones mined in Russia-- a 3rd of the overall drawn out worldwide in 2022. On January 3rd the EU included Russia's state exploration company, as well as its own president, to its decrees list. This is the very first period of a complete sanctions plan: in March the G7 and EU will disallow Russian gems that have actually been reduced and refined abroad. In September they will definitely launch a certification program to validate where precious stones were mined. These steps amount to the biggest change to business in many years. Why has it taken as long to enforce decrees on Russia's gemstone industry-- and also what effect will they possess?