.RUSSIA'S ruby market is under pressure. On January first the G7, a team of abundant countries, and also the European Alliance outlawed bring ins of tough precious stones mined in Russia-- a 3rd of the overall removed worldwide in 2022. On January 3rd the EU included Russia's condition mining firm, and its own ceo, to its own penalties checklist. This is the first stage of a complete injunctions plan: in March the G7 and EU are going to outlaw Russian treasures that have actually been actually cut as well as polished abroad. In September they will present an accreditation program to confirm where diamonds were actually extracted. These solutions add up to the largest change to business in many years. Why has it taken such a long time to establish penalties on Russia's ruby business-- as well as what impact will they have?