.RUSSIA'S ruby field is actually under pressure. On January first the G7, a group of abundant nations, and also the European Alliance disallowed imports of harsh rubies extracted in Russia-- a 3rd of the overall removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition mining company, as well as its own president, to its penalties listing. This is actually the first phase of a complete penalties scheme: in March the G7 as well as EU will certainly ban Russian gems that have been actually reduced as well as polished abroad. In September they are going to introduce a license system to confirm where gemstones were actually mined. These measures add up to the most significant improvement to the business in decades. Why possesses it taken as long to impose penalties on Russia's gemstone sector-- as well as what impact will they possess?