.RUSSIA'S ruby business is actually under pressure. On January first the G7, a group of rich countries, and the European Association prohibited imports of rough precious stones extracted in Russia-- a third of the complete removed worldwide in 2022. On January 3rd the EU included Russia's state mining firm, as well as its own president, to its decrees checklist. This is actually the first stage of an extensive penalties plan: in March the G7 and also EU are going to ban Russian treasures that have been reduced as well as refined abroad. In September they will present a certification plan to verify where rubies were mined. These procedures add up to the most significant modification to the business in many years. Why has it taken as long to enforce decrees on Russia's diamond industry-- and also what influence will they possess?