.RUSSIA'S ruby sector is actually under pressure. On January first the G7, a team of wealthy countries, as well as the European Association prohibited bring ins of tough gemstones unearthed in Russia-- a 3rd of the complete removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration provider, as well as its own president, to its decrees listing. This is the 1st stage of a thorough sanctions plan: in March the G7 and also EU are going to prohibit Russian treasures that have been cut and also refined abroad. In September they will certainly launch an accreditation program to validate where gemstones were actually mined. These solutions add up to the greatest change to the business in years. Why has it taken as long to impose penalties on Russia's precious stone business-- and what effect will they possess?