Myanmar: US Sanctions Myanmar Gemstone Company

Apr 20, 2021 | Arabella Roden, Jeweller
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The US Department of the Treasury (USDT) Office of Foreign Assets Control has formally sanctioned Myanmar (Burma)’s state-owned gemstone trading company, Myanma Gems Enterprise (MGE) following a military coup in the Asian nation which has led to the deaths of more than 600 civilian protestors. According to a statement from the USDT dated 8 April, the sanctions are designed to target a “key economic resource for [the] Burmese military regime that is violently repressing pro-democracy protests in the country and that is responsible for the ongoing lethal attacks against the people of Burma”.