AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
Policies & IssuesApr 08, 2021
US Treasury Department Sanctions 2 More Myanmar Companies
The holding companies are linked to the military and are involved in mining.
Washington, D.C.—The U.S. Department of the Treasury has sanctioned two additional companies in Myanmar as the country’s military continues its brutal crackdown on citizens demonstrating for democracy.
The department’s Office of Foreign Assets Control has designated Myanma Economic Holdings Public Company Limited and Myanmar Economic Corporation Limited, it said in a recent statement on its website.
OFAC is implementing sanctions on the companies because the Burmese military—which owns gemstone entities—“controls significant segments of the country’s economy through these holding firms,” dominating mining and natural resources, trading, consumer goods and more.
The designation comes in addition to sanctions previously placed on three colored gemstone companies: Myanmar Ruby Enterprise, Myanmar Imperial Jade Co. Ltd., and Cancri Gems & Jewellery Co. Ltd.
According to the White House, these three companies are “wholly owned subsidiaries of a conglomerate owned or controlled by the Burmese military.”
When National Jeweler covered the first set of sanctions, Sara Yood, senior counsel at the Jewelers Vigilance Committee, sent a statement that continues to apply to the situation in Myanmar.
She said: “JVC’s recommendation to businesses is to make inquiries into their colored gemstone supply chains to determine if they are directly or indirectly doing business with these entities, and if so, to immediately stop doing business with them.”
The sanctions come in response to the Feb. 1 coup in the country, in which the military junta seized power, ousting leader Aung San Suu Kyi and detaining other key government officials.
The move has led to widespread civilian protests many civilians to protest, resulting in bloody clashes between Myanmar’s people and the military.
According to the Associated Press, security forces have killed at least 581 protesters and bystanders through Tuesday in their crackdowns on protestors.
Additionally, a group representing the country’s ousted government officials has gathered evidence showing human rights abuses by the military, including executions, torture and illegal detentions, and will present it to UN investigators, The Guardian reported.
The department’s Office of Foreign Assets Control has designated Myanma Economic Holdings Public Company Limited and Myanmar Economic Corporation Limited, it said in a recent statement on its website.
OFAC is implementing sanctions on the companies because the Burmese military—which owns gemstone entities—“controls significant segments of the country’s economy through these holding firms,” dominating mining and natural resources, trading, consumer goods and more.
The designation comes in addition to sanctions previously placed on three colored gemstone companies: Myanmar Ruby Enterprise, Myanmar Imperial Jade Co. Ltd., and Cancri Gems & Jewellery Co. Ltd.
According to the White House, these three companies are “wholly owned subsidiaries of a conglomerate owned or controlled by the Burmese military.”
When National Jeweler covered the first set of sanctions, Sara Yood, senior counsel at the Jewelers Vigilance Committee, sent a statement that continues to apply to the situation in Myanmar.
She said: “JVC’s recommendation to businesses is to make inquiries into their colored gemstone supply chains to determine if they are directly or indirectly doing business with these entities, and if so, to immediately stop doing business with them.”
The sanctions come in response to the Feb. 1 coup in the country, in which the military junta seized power, ousting leader Aung San Suu Kyi and detaining other key government officials.
The move has led to widespread civilian protests many civilians to protest, resulting in bloody clashes between Myanmar’s people and the military.
According to the Associated Press, security forces have killed at least 581 protesters and bystanders through Tuesday in their crackdowns on protestors.
Additionally, a group representing the country’s ousted government officials has gathered evidence showing human rights abuses by the military, including executions, torture and illegal detentions, and will present it to UN investigators, The Guardian reported.
Editors' Picks
Sponsored by
More on Policies & Issues
The Latest
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
Weekly QuizAug 27, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
FinancialsAug 27, 2026
Movado’s Q2 Sales Up As Younger Consumers Take Interest in WatchesThe fashion watch category was once threatened by the Apple Watch, but consumers are now opting for new wearables, said Movado’s CEO.
SurveysAug 26, 2026
5 Jewelry Insights From The RealReal’s Resale ReportThe report delves into trending styles, the most popular jewelry brands by city, and why Belle Époque jewelry could be the next big thing.
Lab-GrownAug 26, 2026
AGTA Now Requiring Members to Call Lab-Grown Gems ‘Synthetic’The association added the requirement to its revised "Code of Ethics" and released the 17th edition of its “Gemstone Information Manual.”
SurveysAug 26, 2026
Consumer Confidence Dips in August Amid Anticipatory Anxieties Respondents were concerned about the future of the labor market and their income as well as the rising prices of gas and groceries.
TrendsAug 26, 2026
Boucheron’s New Campaign Celebrates Its ‘Question Mark’ NecklacesThe campaign highlights the asymmetrical high jewelry necklace style that the jeweler first created in 1879.
Events & AwardsAug 26, 2026
Harry Winston Exhibition to Open in ShanghaiIt will explore the life of “The King of Diamonds” and showcase more than 165 creations from the brand.
CrimeAug 25, 2026
Florida Woman Scammed Out of $1.5M in Jewelry, Precious MetalsTwo suspects have been arrested in connection with the complex phone scam.
ColumnistsAug 25, 2026
Proof Before Purchase: The Gen Z Way to BuyIn her first column for National Jeweler, Jennifer Shaheen asks jewelers if they know how to connect with the next generation of consumers.
Events & AwardsAug 25, 2026
SSEF Opens 2026 Applications for Gemology Education ScholarshipsThe annual awards cover tuition for an on-site educational course at the Swiss lab, as well as flights and lodging.
TrendsAug 25, 2026
Brent Neale Celebrates Blackberry Farm’s Anniversary With JewelryThe jeweler partnered with the Tennessee resort to honor its 50th anniversary with limited-edition blackberry pendants and earrings.
