.RUSSIA'S ruby business is under pressure. On January first the G7, a group of rich countries, and the European Union disallowed imports of tough precious stones extracted in Russia-- a third of the overall extracted worldwide in 2022. On January 3rd the EU incorporated Russia's state mining business, and also its president, to its own penalties listing. This is actually the 1st stage of an extensive penalties program: in March the G7 and also EU are going to prohibit Russian treasures that have actually been actually cut and also refined abroad. In September they will offer a license system to validate where gemstones were actually mined. These steps add up to the greatest adjustment to your business in years. Why possesses it taken as long to enforce injunctions on Russia's ruby sector-- and also what effect will they have?