.RUSSIA'S gemstone business is actually under pressure. On January first the G7, a team of abundant nations, and the European Alliance outlawed imports of tough diamonds mined in Russia-- a third of the total extracted worldwide in 2022. On January 3rd the EU incorporated Russia's condition mining firm, and also its own chief executive, to its own decrees checklist. This is actually the first stage of an extensive injunctions program: in March the G7 and EU will definitely disallow Russian gems that have been actually cut and polished abroad. In September they will certainly introduce a license plan to confirm where rubies were extracted. These procedures amount to the largest adjustment to your business in years. Why possesses it taken such a long time to impose decrees on Russia's ruby sector-- and also what impact will they have?