.RUSSIA'S precious stone sector is under pressure. On January 1st the G7, a team of rich nations, and also the European Association banned imports of tough rubies mined in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration company, and also its own leader, to its injunctions checklist. This is actually the 1st stage of a detailed penalties system: in March the G7 and also EU will disallow Russian jewels that have been reduced and perfected abroad. In September they will certainly offer a license plan to confirm where gemstones were actually extracted. These actions amount to the biggest adjustment to business in decades. Why has it taken so long to enforce decrees on Russia's diamond field-- and also what influence will they have?