.RUSSIA'S precious stone industry is under pressure. On January 1st the G7, a group of wealthy nations, as well as the European Association disallowed bring ins of rough rubies mined in Russia-- a 3rd of the complete extracted worldwide in 2022. On January 3rd the EU added Russia's state mining business, as well as its chief executive, to its decrees list. This is the very first period of a comprehensive decrees plan: in March the G7 and EU will definitely prohibit Russian jewels that have been reduced and also polished abroad. In September they will certainly introduce a license program to verify where precious stones were actually unearthed. These solutions amount to the biggest improvement to business in years. Why has it taken as long to establish sanctions on Russia's ruby market-- and also what effect will they have?