.RUSSIA'S ruby business is actually under the gun. On January 1st the G7, a team of wealthy countries, and also the European Union disallowed imports of rough gemstones mined in Russia-- a 3rd of the total removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition mining company, and also its own chief executive, to its own injunctions listing. This is the 1st phase of a detailed penalties plan: in March the G7 and also EU will certainly disallow Russian jewels that have actually been actually reduced as well as refined abroad. In September they are going to introduce an accreditation scheme to confirm where gemstones were extracted. These steps add up to the greatest change to the business in years. Why possesses it taken so long to enforce injunctions on Russia's diamond market-- as well as what influence will they have?