.RUSSIA'S ruby sector is actually under the gun. On January first the G7, a group of wealthy nations, as well as the European Alliance prohibited bring ins of rugged diamonds mined in Russia-- a 3rd of the total drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration provider, and also its own president, to its decrees checklist. This is actually the 1st phase of a comprehensive decrees program: in March the G7 and also EU will definitely prohibit Russian jewels that have been actually reduced as well as refined abroad. In September they are going to present a qualification system to validate where rubies were extracted. These solutions amount to the greatest change to the business in decades. Why possesses it taken such a long time to establish decrees on Russia's precious stone business-- and what impact will they possess?