SourcingNov 06, 2019
State of the Colored Stone Market: Building Benefits at HomePolicies & IssuesApr 09, 2021
In Strongest Move Yet, US Imposes Sanctions on Key Burmese Gemstone Entity
Myanma Gems Enterprise runs the country’s gem emporiums and is responsible for permits, licenses, and marketing jade and other gemstones.
Washington, D.C.—The U.S. Department of the Treasury has sanctioned the state-owned entity responsible for nearly all gem activities in Myanmar, the strongest measure it’s taken against the country’s gemstone sector so far this year.
In an April 8 statement, the department announced its Office of Foreign Assets Control has sanctioned Myanma Gems Enterprise.
“Today’s action highlights Treasury’s commitment to denying the Burmese military sources of funding, including from key state-owned enterprises throughout Burma,” said OFAC Director Andrea Gacki.
Gems are a key economic resource for the Burmese military, which is behind the recent coup and is brutally and violently repressing pro-democracy protests in the country.
While this sanction is targeted specifically at the military-controlled gemstone entities, the impact of the designation is very broad.
Myanma Gems Enterprise (MGE) operates under Myanmar’s Ministry of Natural Resources and Environmental Conservation and is a subdivision of the Ministry of Mines.
MGE is responsible for all activities related to gemstones in the country, including permits, licenses, enforcing regulatory framework, developing and participating in joint ventures on behalf of the state, collecting royalties, and marketing jade and other Burmese gemstones.
It also organizes emporiums and special sales three times a year for gemstones and jade, an important event for many in the sector and a major source of revenue for Myanmar’s government.
“As a result of today’s action, all property and interests in property of the entity named above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC,” the Treasury Department said of sanctioning MGE.
“In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.”
Unless authorized by a license issued by OFAC or otherwise exempt, it added, the regulations prohibit all transactions by U.S. residents, or those within the United States, involving any property of MGE.
Related stories will be right here …
In an April 8 statement, the department announced its Office of Foreign Assets Control has sanctioned Myanma Gems Enterprise.
“Today’s action highlights Treasury’s commitment to denying the Burmese military sources of funding, including from key state-owned enterprises throughout Burma,” said OFAC Director Andrea Gacki.
Gems are a key economic resource for the Burmese military, which is behind the recent coup and is brutally and violently repressing pro-democracy protests in the country.
While this sanction is targeted specifically at the military-controlled gemstone entities, the impact of the designation is very broad.
Myanma Gems Enterprise (MGE) operates under Myanmar’s Ministry of Natural Resources and Environmental Conservation and is a subdivision of the Ministry of Mines.
MGE is responsible for all activities related to gemstones in the country, including permits, licenses, enforcing regulatory framework, developing and participating in joint ventures on behalf of the state, collecting royalties, and marketing jade and other Burmese gemstones.
It also organizes emporiums and special sales three times a year for gemstones and jade, an important event for many in the sector and a major source of revenue for Myanmar’s government.
“As a result of today’s action, all property and interests in property of the entity named above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC,” the Treasury Department said of sanctioning MGE.
“In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.”
Unless authorized by a license issued by OFAC or otherwise exempt, it added, the regulations prohibit all transactions by U.S. residents, or those within the United States, involving any property of MGE.
The designation is the latest in a number of U.S. sanctions enacted against Burmese gemstone companies or companies with ties to the Burmese military.
Following the Feb. 1 coup, the U.S. government has sanctioned two of the country’s entities with mining interests, Myanma Economic Holdings Public Company Limited and Myanmar Economic Corporation Limited, and three gemstone companies: Myanmar Ruby Enterprise, Myanmar Imperial Jade Co. Ltd., and Cancri Gems & Jewellery Co. Ltd.
Following the Feb. 1 coup, the U.S. government has sanctioned two of the country’s entities with mining interests, Myanma Economic Holdings Public Company Limited and Myanmar Economic Corporation Limited, and three gemstone companies: Myanmar Ruby Enterprise, Myanmar Imperial Jade Co. Ltd., and Cancri Gems & Jewellery Co. Ltd.
More on Policies & Issues
The Latest
EditorsJan 12, 2026
Platinum, White Gold Rule the 2026 Golden GlobesAssociate Editor Natalie Francisco highlights her favorite jewelry moments from the Golden Globes, and they are (mostly) white hot.
GradingJan 12, 2026
Peter Yantzer, Former Executive Director of AGS Labs, Dies at 77 Yantzer is remembered for the profound influence he had on diamond cut grading as well as his contagious smile and quick wit.
MajorsJan 12, 2026
These 14 Macy’s Locations Will Close This YearThe store closures are part of the retailer’s “Bold New Chapter” turnaround plan.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
MajorsJan 12, 2026
Jewelers Mutual Acquires AI-Powered Event Insurance ProgramThrough EventGuard, the company will offer event liability and cancellation insurance, including wedding coverage.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
