.RUSSIA'S ruby market is actually under pressure. On January first the G7, a team of abundant countries, and the European Alliance prohibited bring ins of rough gemstones unearthed in Russia-- a third of the complete removed worldwide in 2022. On January 3rd the EU incorporated Russia's state exploration provider, and also its own ceo, to its own sanctions list. This is the first stage of a complete decrees scheme: in March the G7 and also EU are going to prohibit Russian treasures that have been cut as well as perfected abroad. In September they will certainly launch a certification plan to verify where precious stones were mined. These solutions amount to the most significant improvement to the business in decades. Why possesses it taken such a long time to enforce penalties on Russia's diamond business-- and what impact will they have?