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NGO updates its 'boycott list' of Myanmar military products | Mizzima Myanmar News and Insight

NGO updates its 'boycott list' of Myanmar military products | Mizzima Myanmar News and Insight
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United States Targets Leaders of Burma's Military Coup Under New Executive Order

United States Targets Leaders of Burma's Military Coup Under New Executive Order
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US sanctions Myanmar gemstone company - Jeweller Magazine: Jewellery News and Trends

US sanctions Myanmar gemstone company - Jeweller Magazine: Jewellery News and Trends
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United States, European Union and United Kingdom Intensify Sanctions on Burma | White & Case LLP


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On March 25, 2021, the United States imposed sanctions on Myanma Economic Holdings Public Company Limited ("MEHL") and Myanmar Economic Corporation Limited ("MEC"), Burma's two largest military conglomerates.
1 On the same day, the United Kingdom announced sanctions on MEHL. On April 8, the United States imposed sanctions on Myanma Gems Enterprise ("MGE"), a Burmese state-owned entity responsible for all gemstone activities in Burma,
2 and on April 9 the United States introduced further export controls on Burma.
3 These sanctions follow a wave of restrictive measures imposed by the United States, the United Kingdom, Canada, and the European Union targeting those associated with the Burmese military and security forces who participated in the military's takeover of the country on February 1, 2021, and the subsequent military and police repression against the Burmese people. The sanctions substantially increase the compliance, commercial, and reputational risks faced by companies that continue to operate in Burma.

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Myanmar Junta Reaps Millions in Gem Sales as Economy Crumbles


Myanmar Junta Reaps Millions in Gem Sales as Economy Crumbles
A buyer examines a piece of jade at a gems market in Mandalay, Myanmar, in March 2019. Photo: IC Photo
(Nikkei Asia) — Fresh economic data from private research groups suggest that Myanmar’s economy is deteriorating more sharply than feared after the Feb. 1 coup, with heightened risks of soaring inflation, collapsing trade and increased poverty.
At the same time, recent days have seen a remarkable display of the military’s grasp on Myanmar’s natural resources, with a multi-million dollar, 10-day auction of gems, jade and pearls in the capital, Naypyitaw.

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Diamonds.net - US Bans Major Myanmar Gem Company



RAPAPORT... The US government has placed sanctions on an important state-owned gemstone company in Myanmar, its latest attempt to deprive the military of funding.American businesses may no longer transact with Myanma Gems Enterprise (MGE), an entity “responsible for all gemstone activities”...

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US sanctions on Myanmar gems target key junta funding source


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US sanctions on Myanmar gems target key junta funding source
U.S. sanctions on Myanma Gems Enterprise target an army-controlled business rife with corruption and abuses that is one of the junta’s key sources of revenue
By ELAINE KURTENBACH AP Business Writer
April 9, 2021, 10:50 AM
• 4 min read
Myanmar anti-coup protesters paint slogans on eggs
Anti-coup demonstrators in Myanmar painted eggs with protest slogans, in what they're calling the "Easter Egg Strike."The Associated Press
BANGKOK -- The latest U.S. sanctions on Myanmar target an army-controlled gems business rife with corruption and abuses that is one of the junta’s key sources of revenue.

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Fri. 8:57 a.m.: US sanctions on Myanmar gems target key junta funding source | News, Sports, Jobs


Apr 9, 2021
In this 2018, file photo, a merchant examines a jade stone displayed at the Gems Emporium in Naypyitaw, Myanmar. In its latest targeted sanctions against Myanmar's military, the U.S. has focused on an army controlled gems business rife with corruption and abuses that is part of one of the junta's most important sources of revenue. (AP Photo/Aung Shine Oo, File)
BANGKOK (AP) — The latest U.S. sanctions on Myanmar target an army-controlled gems business rife with corruption and abuses that is one of the junta’s key sources of revenue.
It’s unclear if the sanctions will do much to close the taps of income and royalties from gems sales. Some estimates say more than half of such transactions are not declared, even though they are the country’s second biggest export after natural gas and oil.

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US sanctions on Myanmar gems target key junta funding source | Taiwan News


2021/04/09 17:42
FILE - In this Nov. 13, 2018, file photo, a merchant examines a jade stone displayed at the Gems Emporium in Naypyitaw, Myanmar. In its latest targete...
FILE - In this Nov. 13, 2018, file photo, a merchant examines a jade stone displayed at the Gems Emporium in Naypyitaw, Myanmar. In its latest targeted sanctions against Myanmar's military, the U.S. has focused on an army controlled gems business rife with corruption and abuses that is part of one of the junta's most important sources of revenue. (AP Photo/Aung Shine Oo, File)
FILE - In this April 23, 2019, file photo, people stand atop a ridge overlooking the scene of a mudslide at a jade gemstone mining site in Hpakant are...

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New U.S. Sanctions Effectively Ban Burmese Gems


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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has placed Myanma Gems Enterprise on its Specially Designated National list—which means the vast majority of Burmese rubies, jade, and other gems cannot be purchased by U.S. companies.
Myanma Gems Enterprise—also known as Myanmar Gems Corp. and Myanmar Gems Enterprise—is a subdivision of the government’s ministry of mines and is “responsible for all gemstone activities in Burma,” according to a statement from the Treasury Department. It also organizes the local emporiums and sales where rubies and jade are sold, including one currently taking place in the country’s capital, Naypyitaw. (The company did not respond to a request for comment submitted via its Facebook page.)

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