.RUSSIA'S ruby business is actually under pressure. On January first the G7, a group of rich countries, and also the European Union outlawed bring ins of rugged gemstones extracted in Russia-- a third of the total removed worldwide in 2022. On January 3rd the EU added Russia's state exploration provider, and its own chief executive, to its sanctions list. This is actually the initial period of a comprehensive decrees scheme: in March the G7 and also EU will certainly outlaw Russian gems that have actually been actually cut and fine-tuned abroad. In September they will present an accreditation scheme to confirm where rubies were extracted. These actions amount to the biggest adjustment to the business in decades. Why possesses it taken such a long time to impose decrees on Russia's gemstone field-- and also what impact will they have?