.RUSSIA'S precious stone business is actually under the gun. On January 1st the G7, a team of wealthy countries, as well as the European Association banned imports of tough gemstones mined in Russia-- a 3rd of the overall removed worldwide in 2022. On January 3rd the EU added Russia's state exploration firm, and its own ceo, to its penalties list. This is the very first phase of a thorough decrees scheme: in March the G7 as well as EU are going to prohibit Russian jewels that have actually been reduced as well as perfected abroad. In September they will certainly offer a license program to verify where diamonds were actually mined. These solutions add up to the greatest improvement to the business in decades. Why possesses it taken as long to enforce sanctions on Russia's ruby field-- and also what impact will they have?