.RUSSIA'S precious stone business is struggling. On January first the G7, a team of abundant countries, and also the European Union outlawed bring ins of tough diamonds extracted in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU included Russia's state exploration firm, as well as its president, to its injunctions checklist. This is actually the 1st phase of a detailed penalties program: in March the G7 and EU will certainly outlaw Russian treasures that have actually been cut as well as polished abroad. In September they will definitely offer a license plan to confirm where precious stones were actually extracted. These procedures add up to the largest modification to the business in many years. Why possesses it taken so long to impose sanctions on Russia's ruby sector-- and also what influence will they possess?