.RUSSIA'S gemstone industry is actually under the gun. On January first the G7, a team of wealthy countries, as well as the European Association prohibited imports of rough rubies mined in Russia-- a third of the overall removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration business, as well as its own ceo, to its sanctions listing. This is actually the first phase of an extensive decrees plan: in March the G7 as well as EU will certainly prohibit Russian treasures that have been actually reduced and refined abroad. In September they will definitely launch a license system to verify where rubies were actually unearthed. These steps amount to the most significant improvement to the business in years. Why possesses it taken so long to establish sanctions on Russia's precious stone market-- and also what influence will they possess?