.RUSSIA'S ruby sector is actually under pressure. On January first the G7, a group of abundant nations, and also the European Alliance outlawed bring ins of harsh gemstones extracted in Russia-- a third of the complete extracted worldwide in 2022. On January 3rd the EU added Russia's state exploration provider, and also its leader, to its own sanctions checklist. This is actually the initial phase of a complete sanctions system: in March the G7 and EU will definitely ban Russian gems that have been cut and also polished abroad. In September they will present an accreditation program to validate where gemstones were extracted. These actions add up to the largest improvement to the business in decades. Why has it taken as long to impose injunctions on Russia's ruby market-- and also what effect will they possess?