.RUSSIA'S precious stone sector is actually under the gun. On January 1st the G7, a group of rich nations, and the European Union disallowed bring ins of rough rubies extracted in Russia-- a third of the complete removed worldwide in 2022. On January 3rd the EU included Russia's state exploration provider, as well as its own president, to its own injunctions list. This is actually the initial phase of a comprehensive injunctions system: in March the G7 and EU are going to disallow Russian treasures that have actually been reduced and also polished abroad. In September they are going to offer a license program to confirm where diamonds were actually mined. These procedures amount to the greatest modification to your business in many years. Why possesses it taken such a long time to impose sanctions on Russia's precious stone sector-- and what influence will they have?