.RUSSIA'S ruby business is actually under pressure. On January first the G7, a group of wealthy nations, as well as the European Association banned imports of rough precious stones extracted in Russia-- a third of the overall extracted worldwide in 2022. On January 3rd the EU incorporated Russia's state mining business, and its own president, to its own sanctions list. This is the first stage of an extensive injunctions plan: in March the G7 as well as EU will disallow Russian gems that have been actually cut and also polished abroad. In September they will definitely present an accreditation scheme to validate where gemstones were actually unearthed. These actions add up to the most significant adjustment to your business in decades. Why possesses it taken as long to impose injunctions on Russia's gemstone market-- and what influence will they have?