.RUSSIA'S ruby industry is actually under the gun. On January first the G7, a team of rich nations, as well as the European Association banned imports of rough gemstones mined in Russia-- a third of the total extracted worldwide in 2022. On January 3rd the EU included Russia's condition exploration provider, and its own leader, to its penalties listing. This is the initial stage of a detailed injunctions program: in March the G7 and also EU will certainly prohibit Russian gems that have been actually cut as well as polished abroad. In September they will definitely present a license system to verify where rubies were actually mined. These measures amount to the largest adjustment to the business in many years. Why has it taken as long to establish decrees on Russia's ruby field-- as well as what influence will they have?