.RUSSIA'S ruby market is actually struggling. On January 1st the G7, a group of rich countries, and the European Union banned imports of tough rubies mined in Russia-- a third of the total extracted worldwide in 2022. On January 3rd the EU included Russia's state exploration business, as well as its ceo, to its decrees checklist. This is the 1st phase of a thorough injunctions plan: in March the G7 as well as EU are going to prohibit Russian jewels that have been reduced as well as fine-tuned abroad. In September they will certainly introduce a license system to confirm where rubies were actually extracted. These procedures add up to the most significant improvement to your business in years. Why has it taken such a long time to establish sanctions on Russia's precious stone industry-- and also what influence will they have?