.RUSSIA'S ruby business is actually under pressure. On January 1st the G7, a team of rich countries, as well as the European Association banned imports of rough precious stones unearthed in Russia-- a 3rd of the overall drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration business, and also its own president, to its decrees checklist. This is the 1st period of a detailed sanctions program: in March the G7 and also EU are going to ban Russian gems that have been cut as well as fine-tuned abroad. In September they will definitely offer a license program to validate where precious stones were actually unearthed. These actions amount to the biggest change to your business in years. Why possesses it taken so long to establish injunctions on Russia's precious stone business-- as well as what effect will they have?