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”.
Members of the jewelry industry are confident that US sanctions on Burmese gems will punish leaders of the Asian country’s military coup without damaging the trade.The Myanmar army seized control of the country on February 1. On February 11, US President Joe Biden’s administration banned US.