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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 juntaâs key sources of revenue
By ELAINE KURTENBACH AP Business Writer
April 9, 2021, 10:50 AM
⢠4 min read
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BANGKOK The latest U.S. sanctions on Myanmar target an army-controlled gems business rife with corruption and abuses that is one of the juntaâs key sources of revenue.
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.
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.
U S sanctions on Myanmar gems target key junta funding source rep-am.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rep-am.com Daily Mail and Mail on Sunday newspapers.