.RUSSIA'S gemstone market is actually under the gun. On January 1st the G7, a group of abundant nations, as well as the European Alliance prohibited imports of tough gemstones unearthed in Russia-- a 3rd of the total removed worldwide in 2022. On January 3rd the EU incorporated Russia's condition mining business, and its own chief executive, to its own sanctions list. This is actually the 1st period of an extensive sanctions program: in March the G7 as well as EU will disallow Russian treasures that have been actually cut and fine-tuned abroad. In September they will definitely launch an accreditation plan to verify where diamonds were mined. These actions amount to the largest change to the business in many years. Why possesses it taken such a long time to impose decrees on Russia's ruby market-- as well as what influence will they possess?