.RUSSIA'S ruby industry is struggling. On January first the G7, a team of wealthy nations, and also the European Alliance disallowed imports of rugged rubies mined in Russia-- a third of the overall extracted worldwide in 2022. On January 3rd the EU incorporated Russia's state mining firm, and also its chief executive, to its penalties checklist. This is actually the initial stage of an extensive penalties system: in March the G7 and EU are going to prohibit Russian treasures that have been cut and also fine-tuned abroad. In September they will definitely offer an accreditation program to verify where diamonds were actually extracted. These measures add up to the greatest adjustment to business in many years. Why possesses it taken as long to enforce sanctions on Russia's gemstone business-- and what influence will they have?