.RUSSIA'S ruby industry is struggling. On January 1st the G7, a team of abundant countries, and the European Union outlawed bring ins of rough precious stones extracted in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration firm, and also its president, to its own injunctions listing. This is actually the very first phase of an extensive penalties scheme: in March the G7 and also EU will certainly outlaw Russian jewels that have been actually reduced and refined abroad. In September they will certainly introduce a qualification program to verify where precious stones were actually unearthed. These measures add up to the biggest modification to business in many years. Why possesses it taken so long to enforce decrees on Russia's gemstone market-- as well as what influence will they have?