.RUSSIA'S ruby sector is under the gun. On January 1st the G7, a group of abundant nations, and also the European Union prohibited bring ins of rugged precious stones extracted in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU included Russia's state exploration provider, as well as its leader, to its injunctions list. This is actually the first period of a complete injunctions plan: in March the G7 as well as EU will certainly prohibit Russian treasures that have actually been cut and perfected abroad. In September they will launch an accreditation system to validate where rubies were mined. These solutions amount to the largest modification to the business in years. Why possesses it taken as long to establish penalties on Russia's diamond field-- as well as what effect will they have?