.RUSSIA'S ruby industry is actually under the gun. On January 1st the G7, a team of abundant nations, and the European Union outlawed bring ins of rugged rubies mined in Russia-- a third of the overall extracted worldwide in 2022. On January 3rd the EU added Russia's state mining provider, and also its own president, to its own decrees listing. This is the first phase of a comprehensive injunctions system: in March the G7 and also EU will certainly ban Russian gems that have been reduced and also fine-tuned abroad. In September they will certainly offer a certification scheme to verify where diamonds were actually unearthed. These measures add up to the largest adjustment to business in decades. Why possesses it taken such a long time to establish penalties on Russia's precious stone industry-- as well as what influence will they have?