.RUSSIA'S ruby sector is under pressure. On January first the G7, a group of rich nations, and the European Union prohibited imports of rough 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 its own ceo, to its penalties list. This is the initial stage of a detailed injunctions scheme: in March the G7 as well as EU are going to outlaw Russian gems that have actually been actually reduced and fine-tuned abroad. In September they will definitely introduce an accreditation program to validate where precious stones were actually extracted. These procedures amount to the biggest change to your business in decades. Why has it taken so long to enforce decrees on Russia's precious stone field-- and what impact will they possess?