.RUSSIA'S ruby industry is under the gun. On January 1st the G7, a group of rich countries, and also the European Alliance prohibited imports of rugged diamonds mined in Russia-- a 3rd of the overall drawn out worldwide in 2022. On January 3rd the EU incorporated Russia's condition exploration business, and also its own ceo, to its injunctions listing. This is the initial stage of an extensive sanctions scheme: in March the G7 and also EU are going to disallow Russian jewels that have actually been reduced and polished abroad. In September they will definitely introduce a license scheme to validate where diamonds were actually unearthed. These measures amount to the biggest modification to your business in decades. Why has it taken so long to impose penalties on Russia's ruby sector-- and also what impact will they possess?