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This review focuses on the critical issues and future directions in the application of diamond in high technology. Diamond nuclear radiation detectors, photosensors, photoemitters, spectral windows, active and passive microelectronic components, and microelectromechanical systems are discussed in detail. In Russia, high-technology diamond applications have not yet moved toward the manufacturing stage, even though Russia possesses immense resources of natural diamond and a considerable scientific potential in the field of creating unique synthetic diamonds, polycrystalline and single-crystal diamond films, and diamond-like compounds. We hope that the points raised in this review will provide the impetus for the development of diamond technology in Russia.