.RUSSIA'S ruby industry is actually struggling. On January first the G7, a group of rich nations, and also the European Alliance disallowed bring ins of harsh diamonds extracted in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU added Russia's condition exploration provider, and its own president, to its own decrees listing. This is actually the very first stage of a thorough decrees system: in March the G7 and also EU will certainly prohibit Russian treasures that have actually been reduced and also fine-tuned abroad. In September they will definitely launch a qualification scheme to verify where gemstones were mined. These procedures add up to the most significant adjustment to the business in many years. Why possesses it taken so long to establish penalties on Russia's ruby sector-- and what impact will they have?