President Vladimir Putin has signed a decree allowing Russian companies to import uncut diamonds from Liberia, in response to the UN Security Council's lifting of its ban.

The Republic of Congo has rejoined the Kimberly Process, a global watchdog group designed to stop the flow of conflict diamonds. Analysts say the move shows controls on the diamond trade in the country are improving, but warn that there is still much to be done to regulate the diamond industry, both in Congo and around the world.

Beginning Monday, Liberians can start applying for licenses to mine, sell, or broker for diamonds. This follows the weekend lifting of a six-year moratorium on the trade in diamonds.

The European Court of Justice has overturned the European Commission's ruling restricting diamond giant De Beers from buying rough diamonds from Russian Alrosa.