.RUSSIA'S DIAMOND industry is actually under pressure. On January first the G7, a team of abundant nations, and also the European Union outlawed imports of rugged rubies mined in Russia-- a 3rd of the complete removed worldwide in 2022. On January 3rd the EU included Russia's state exploration business, and also its own ceo, to its own sanctions checklist. This is actually the 1st period of a comprehensive injunctions scheme: in March the G7 and also EU will certainly ban Russian treasures that have actually been cut and fine-tuned abroad. In September they will certainly introduce a license system to validate where precious stones were extracted. These procedures amount to the most significant modification to business in many years. Why has it taken so long to establish injunctions on Russia's ruby field-- as well as what impact will they have?