.RUSSIA'S ruby market is struggling. On January 1st the G7, a team of rich countries, and also the European Association outlawed imports of harsh diamonds mined in Russia-- a third of the total extracted worldwide in 2022. On January 3rd the EU incorporated Russia's state exploration business, and its chief executive, to its decrees checklist. This is the first period of a thorough decrees scheme: in March the G7 and also EU are going to ban Russian gems that have been cut and refined abroad. In September they are going to introduce a license plan to validate where gemstones were unearthed. These procedures add up to the most significant adjustment to your business in many years. Why has it taken as long to establish penalties on Russia's ruby business-- as well as what impact will they have?