.RUSSIA'S ruby business is under pressure. On January 1st the G7, a group of wealthy countries, as well as the European Association outlawed bring ins of rugged rubies mined in Russia-- a third of the complete removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration company, and also its own chief executive, to its injunctions checklist. This is actually the first period of an extensive penalties program: in March the G7 and EU will certainly prohibit Russian treasures that have been actually reduced as well as perfected abroad. In September they are going to launch an accreditation system to confirm where rubies were mined. These procedures add up to the biggest adjustment to your business in many years. Why has it taken such a long time to enforce penalties on Russia's gemstone business-- and what effect will they have?