.RUSSIA'S gemstone sector is actually struggling. On January 1st the G7, a group of wealthy countries, as well as the European Association disallowed imports of harsh rubies unearthed in Russia-- a 3rd of the complete removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration company, as well as its ceo, to its penalties checklist. This is actually the 1st stage of an extensive decrees scheme: in March the G7 and EU will certainly disallow Russian jewels that have actually been actually cut as well as fine-tuned abroad. In September they are going to offer a license plan to validate where precious stones were actually extracted. These actions add up to the biggest adjustment to the business in many years. Why has it taken such a long time to enforce penalties on Russia's precious stone market-- and what influence will they have?