.RUSSIA'S precious stone sector is under pressure. On January first the G7, a team of abundant nations, and also the European Alliance prohibited bring ins of tough rubies mined in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration firm, as well as its leader, to its penalties listing. This is the 1st stage of a comprehensive penalties program: in March the G7 and also EU will definitely disallow Russian treasures that have been cut and perfected abroad. In September they will certainly offer a certification plan to confirm where rubies were actually extracted. These measures amount to the greatest modification to the business in years. Why possesses it taken so long to impose sanctions on Russia's gemstone industry-- and also what influence will they have?