.RUSSIA'S gemstone field is actually under pressure. On January first the G7, a team of wealthy countries, and the European Association banned imports of tough precious stones extracted in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU included Russia's state mining provider, as well as its own president, to its own injunctions list. This is the initial phase of an extensive penalties system: in March the G7 and EU will certainly prohibit Russian jewels that have been reduced and also refined abroad. In September they will launch a license plan to validate where rubies were actually extracted. These actions add up to the biggest change to business in many years. Why has it taken as long to establish decrees on Russia's ruby sector-- and what impact will they possess?