.RUSSIA'S ruby business is under the gun. On January 1st the G7, a group of rich countries, and the European Association banned bring ins of harsh precious stones mined in Russia-- a 3rd of the overall removed worldwide in 2022. On January 3rd the EU added Russia's condition mining provider, and its president, to its own decrees list. This is the very first stage of a thorough sanctions scheme: in March the G7 and EU will definitely disallow Russian gems that have actually been actually reduced and also polished abroad. In September they will launch an accreditation system to verify where precious stones were extracted. These measures amount to the most significant modification to the business in years. Why has it taken such a long time to enforce sanctions on Russia's gemstone business-- as well as what influence will they have?