FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, KeringThe luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.
SourcingOct 12, 2016
White House Officially Lifts Sanctions Against Myanmar
The announcement came right as U.S. industry leaders traveled to the country to discuss bilateral trade between it and the United States.
Washington, D.C.--The White House officially has lifted the sanctions against Myanmar (formerly Burma) that blocked rubies and jade from being imported to the United States for nearly a decade.
President Barack Obama signed an executive order on Oct. 7, in which he stated that the state of emergency declared against the country in 2008 was terminated due to Myanmar’s “substantial advances to promote democracy,” including elections held last November that led to the National League for Democracy winning a majority of seats in parliament and a “greater enjoyment of human rights and fundamental freedoms.”
This ended all the remaining economic and financial sanctions against Myanmar, which still included the import of rubies and jade as part of the Tom Lantos Block Burmese JADE Act of 2008.
Though the act expired in 2013, eliminating almost all the sanctions against the country, Obama signed an executive order reinstating the prohibition on the importation of any jade or rubies mined or extracted from Myanmar or any articles of jewelry containing them.
The order comes less than a month after Obama met with Myanmar State Counsellor Daw Aung San Suu Kyi to discuss the country’s change and development over the past five years, indicating at the time that he would remove the sanctions, and right as U.S. jewelry industry leaders traveled to the country to discuss bilateral trade between the two countries.
The group was led by American Gem Trade Association CEO Doug Hucker and President Jeff Bilgore, Jewelers of America President and CEO David Bonaparte, and the Gemological Institute of America’s Jim Shigley. Also on the trip was Timothy Haake of Haake/Fetzer, senior counsel to JA, and a representative from the Inle Advisory Group, a Myanmar-focused business consulting group.
This is the first meeting in Myanmar for representatives of the U.S. jewelry trade since Obama announced last month that he would lift the remaining sanctions, and was meant to re-establish direct lines of commerce between Myanmar and the U.S.
“Our goal in coming here is to demonstrate that the gem sector in Myanmar is as worthy as any in the world, and that responsible commerce can only help all of us improve and make democracy stronger,” Bilgore said.
Bonaparte added, “We are here to share with the people of Myanmar what our U.S. trade associations do to ensure product integrity, increase consumer confidence, and maintain responsible supply chains.”
The discussions on developing
guidelines to include the highest levels of social, environmental and economic business practices come at a critical time for the Myanmar mining sector, where struggles, especially in the jade industry, remain.
The Ministry of Natural Resources and Environmental Conservation in Myanmar announced in July that for the time being, it would not renew mining permits after they expire, opting instead to focus on changes to the rules and regulations to create a safer environment for its workers.
The Ministry of Natural Resources and Environmental Conservation in Myanmar announced in July that for the time being, it would not renew mining permits after they expire, opting instead to focus on changes to the rules and regulations to create a safer environment for its workers.
More on Sourcing
The Latest
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch HistoryThe book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & WatchesAlexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.
Brought to you by
Are Earrings an Overlooked Category? What Retailers Need to Know NowAs the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds EditionThe superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the HolidaysRetailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva AuctionThe nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New PerchChief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume ChallengeFive dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New OwnerRecently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink DiamondThe stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.
MajorsOct 21, 2025
Pomellato Brings ‘Global Attitude’ to Rodeo Drive FlagshipHollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.
Lab-GrownOct 21, 2025
Grown Brilliance Opens First FlagshipThe New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.
Events & AwardsOct 21, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
AuctionsOct 20, 2025
Sotheby's To Auction 10-Carat Vivid Pink DiamondMaking its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.
SourcingOct 20, 2025
2 Mozambique Police Officers Killed at Gemfields’ Ruby MineThey were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.
CrimeOct 20, 2025
See the ‘Priceless’ Jewels Stolen During Daytime Heist at the Louvre It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.
SourcingOct 20, 2025
Pristine Gems Names New Director of European SalesGemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.
IndependentsOct 17, 2025
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer will celebrate a milestone only a small percentage of family-owned businesses survive to see.
Events & AwardsOct 17, 2025
An Edit of Italian Jewels Is Coming to NYCThe new showcase dedicated to Italian jewelry design is set for Oct. 29-30.
TrendsOct 17, 2025
Piece of the Week: Judi Powers Jewelry’s ‘Stella’ EarringsTake a gaze at the sky with this pair of platinum diamond-set star earrings with blue lace agate drops.
IndependentsOct 16, 2025
Retailer Hall of Fame 2025: Jeffrey Zimmer Jeffrey Zimmer's decades of leadership at Reeds Jewelers are defined by integrity, a love of sourcing gemstones, and a heart for community.
AuctionsOct 16, 2025
Sotheby’s Introduces Custom Jewelry ServiceThe new high jewelry design and production process takes 30 days or less from concept to completion, the auction house said.
MajorsOct 16, 2025
Oscar Heyman’s Holiday Catalog Is Out, and It’s SpectacularThe holiday catalog for 2025 features never-before-seen images of more than 100 one-of-a-kind masterpieces.
CollectionsOct 16, 2025
Foundrae Adds To ‘United in Love’ CollectionThe brand has released a second installment of its collection of traditional and non-traditional commitment heirlooms.
IndependentsOct 15, 2025
Retailer Hall of Fame 2025: Kathy CoreyCorey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.
