.RUSSIA'S gemstone business is under the gun. On January 1st the G7, a group of abundant countries, and also the European Alliance disallowed bring ins of tough diamonds extracted in Russia-- a third of the complete drawn out worldwide in 2022. On January 3rd the EU added Russia's condition exploration company, and its own chief executive, to its decrees checklist. This is actually the first stage of a thorough decrees system: in March the G7 and also EU will certainly ban Russian gems that have actually been cut and refined abroad. In September they will certainly launch an accreditation system to validate where gemstones were extracted. These steps add up to the most significant adjustment to the business in decades. Why has it taken so long to enforce penalties on Russia's ruby market-- as well as what influence will they possess?