Leaders of the Group of Seven (G7) countries agreed on Dec. 6 to impose a direct import ban on Russian diamonds starting January in a bid to stifle Moscow’s revenue during its invasion of Ukraine. Russia is the world’s largest diamond producer and earned around $4 billion from the diamond trade last year, helping the country fuel its war against Kyiv. The announcement comes after months of discussion on cutting Moscow off from this lucrative source of income. Earlier the same day, Canada announced that it is banning the direct import of Russian diamonds “in coordination with its G7 partners.” …