.RUSSIA'S ruby industry is actually under pressure. On January first the G7, a group of rich nations, as well as the European Alliance disallowed bring ins of harsh rubies extracted in Russia-- a third of the overall drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's condition mining firm, and also its own ceo, to its own sanctions checklist. This is the 1st period of a comprehensive penalties program: in March the G7 and also EU are going to disallow Russian gems that have actually been cut and perfected abroad. In September they will certainly offer an accreditation plan to verify where gemstones were actually extracted. These procedures add up to the most significant improvement to business in many years. Why has it taken so long to establish decrees on Russia's diamond market-- as well as what influence will they have?