.RUSSIA'S ruby field is actually struggling. On January 1st the G7, a team of wealthy nations, as well as the European Association banned imports of rough gemstones mined in Russia-- a 3rd of the total removed worldwide in 2022. On January 3rd the EU added Russia's state exploration firm, and also its ceo, to its own injunctions list. This is actually the 1st stage of a thorough penalties program: in March the G7 and EU will certainly prohibit Russian treasures that have actually been actually reduced and refined abroad. In September they will certainly introduce a license scheme to confirm where rubies were unearthed. These measures add up to the greatest change to business in many years. Why has it taken as long to enforce sanctions on Russia's ruby sector-- as well as what impact will they have?