.RUSSIA'S ruby sector is actually under the gun. On January first the G7, a group of rich nations, as well as the European Alliance banned imports of harsh gemstones mined in Russia-- a 3rd of the total drawn out worldwide in 2022. On January 3rd the EU added Russia's state exploration company, and its leader, to its own sanctions checklist. This is the 1st stage of a complete decrees plan: in March the G7 and EU are going to ban Russian gems that have actually been reduced as well as polished abroad. In September they will definitely offer a qualification system to verify where rubies were actually mined. These measures amount to the greatest improvement to your business in decades. Why possesses it taken as long to enforce decrees on Russia's precious stone field-- and what impact will they have?