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FTR, there are of course competition laws in the EU (which luxembourg is a member of, and De Beers are officially based there).
It’s not as though their slogan is De Beers: The monopoly you can’t do anything about. They play a good game. I don’t doubt they’d get a visit from the JD; but the result could be decades with very little happening.
In Gigi, by Colette, Gigi’s great-aunt shows off her jewelry. At one point, Gigi refers to one gem as a topaz. The great-aunt is shocked. “A topaz among my jewels? It’s a yellow diamond, you little goose, and you won’t often see its like!”