Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
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
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
FinancialsNov 05, 2026
Brilliant Earth Continued to Resonate With High-Income Shoppers in Q3Its non-bridal fine jewelry remains the star of the show, recently launching new collections inspired by Elizabeth Taylor and Jane Goodall.
Weekly QuizOct 29, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
FinancialsNov 04, 2026
Pandora’s Q3 Sales Up 7% Amid Focus on DesignNew collections and relevant marketing pushed the company forward, while Pandora’s lab-grown diamond sales continue to lag.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
MajorsOct 29, 2026
Gesswein Hires Longtime Bench Jeweler, Educator Ann CahoonCahoon was appointed strategic account and educational program manager at Gesswein, which recently joined Continental Buying Group.
