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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
jewellermagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jewellermagazine.com Daily Mail and Mail on Sunday newspapers.

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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 incr ....

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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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