.RUSSIA'S ruby industry is under pressure. On January 1st the G7, a team of wealthy nations, as well as the European Alliance banned imports of rugged gemstones extracted in Russia-- a 3rd of the total removed worldwide in 2022. On January 3rd the EU added Russia's state mining company, and also its leader, to its injunctions list. This is the initial period of a comprehensive decrees scheme: in March the G7 and also EU will definitely outlaw Russian treasures that have actually been actually cut and perfected abroad. In September they will present a qualification program to validate where rubies were unearthed. These measures amount to the largest improvement to your business in decades. Why has it taken so long to impose sanctions on Russia's ruby field-- and also what effect will they possess?