.RUSSIA'S precious stone market is actually struggling. On January 1st the G7, a team of rich nations, as well as the European Association banned bring ins of rough gemstones extracted in Russia-- a 3rd of the complete removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration firm, as well as its leader, to its own penalties listing. This is actually the initial period of an extensive injunctions program: in March the G7 as well as EU are going to prohibit Russian jewels that have been reduced as well as refined abroad. In September they will launch a license program to confirm where gemstones were actually unearthed. These solutions add up to the biggest adjustment to the business in years. Why possesses it taken such a long time to impose sanctions on Russia's ruby sector-- as well as what effect will they possess?