Russia tried going on their own selling diamonds but soon learned there was more money to be made joining De Beers. So that is what they did.
It doesn't pay anyone to undercut everyone else. Australia has diamond mines but joined the South African cartel or whatever you call it.
Created diamonds don't have the same inclusions or imperfection as manufactured diamonds but they can be detected only by special equipment in labs.
An alternative to diamonds are Moissanite. Much cheaper and brighter as well but not quite as hard.
