OFAC SANCTIONS KEY GEMS ENTERPRISE IN BURMA

On 8 April, the US Treasury advised that OFAC had imposed sanctions on the MYANMA GEMS ENTERPRISE.  This a Burmese state-owned entity that is responsible for all gemstone activities in Burma.  The Treasury says that gemstones are 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, including the killing of children. These sanctions are not directed at the people of Burma.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210408

https://home.treasury.gov/news/press-releases/jy0115

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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