.RUSSIA'S ruby sector is actually struggling. On January 1st the G7, a team of rich nations, and the European Union disallowed bring ins of tough precious stones extracted in Russia-- a third of the total extracted worldwide in 2022. On January 3rd the EU included Russia's condition exploration provider, and also its own leader, to its own penalties checklist. This is the very first phase of a detailed injunctions scheme: in March the G7 and also EU will certainly ban Russian jewels that have been reduced and also refined abroad. In September they will launch a qualification plan to verify where diamonds were extracted. These steps add up to the greatest modification to the business in decades. Why possesses it taken so long to impose sanctions on Russia's diamond industry-- as well as what effect will they have?