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US Sanctions Block Myanmar s Gemstone Exports February 17, 21 by John Jeffay
(IDEX Online) - US President Joe Biden has blacklisted three gemstone companies in Myanmar because of their links with military regime that ousted state counsellor Aung San Suu Kyi as leader earlier this month.
The country produces 90 per cent of the world s high-end rubies, many of its most expensive sapphires, a
nd it supplies China with much of its jade.
Sanctions now prohibit Myanmar Ruby Enterprise, Myanmar Imperial Jade Co. Ltd., a
nd Cancri Gems & Jewellery Co. Ltd from doing any business in the US o
r with US companies.