.RUSSIA'S ruby sector is actually under the gun. On January first the G7, a group of rich countries, and the European Alliance prohibited imports of harsh diamonds extracted in Russia-- a 3rd of the overall extracted worldwide in 2022. On January 3rd the EU included Russia's condition mining business, and its president, to its own decrees list. This is actually the first stage of a detailed sanctions system: in March the G7 and also EU will prohibit Russian gems that have actually been reduced and also polished abroad. In September they will definitely present a certification plan to validate where rubies were actually mined. These steps amount to the biggest improvement to your business in many years. Why has it taken such a long time to establish penalties on Russia's gemstone industry-- and also what impact will they possess?