.RUSSIA'S precious stone sector is actually under the gun. On January 1st the G7, a group of abundant countries, and also the European Union outlawed imports of harsh gemstones unearthed in Russia-- a 3rd of the overall drawn out worldwide in 2022. On January 3rd the EU added Russia's state mining business, and its ceo, to its penalties checklist. This is actually the 1st phase of a comprehensive injunctions program: in March the G7 as well as EU are going to ban Russian gems that have actually been actually reduced as well as refined abroad. In September they will certainly present a certification system to confirm where rubies were extracted. These solutions add up to the most significant adjustment to the business in many years. Why has it taken so long to enforce penalties on Russia's ruby sector-- as well as what influence will they have?