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
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
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.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
Weekly QuizDec 11, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
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.
TrendsDec 11, 2025
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.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
TrendsDec 09, 2025
‘Once Upon a Time,’ Guzema Debuted Its Holiday CollectionThe collection features characters and motifs from Ukrainian folklore, including an enchanted mirror and a magic egg.
TechnologyDec 09, 2025
Gemvision Releases Updated MatrixGoldMatrixGold 3.11, the newest version of the jewelry design program, offers more flexibility, precision, and creative control.
Events & AwardsDec 09, 2025
MJSA Showcase Pavilion Returning to JA New York The pavilion will be part of the 2026 JA New York Spring show, scheduled for March 15 to 17.
MajorsDec 08, 2025
Juell Kadet, a ‘Lifelong Pillar’ of Rogers & Hollands, Dies at 96Kadet, a 1994 National Jeweler Retailer Hall of Fame inductee, helped grow the family-owned retailer in the Chicago area and beyond.
TechnologyDec 08, 2025
You’ve Heard of Smart Watches and Rings; Meet Smart EarringsBilled as the world’s smallest wearable, Lumia Health’s new smart earrings have a health tracker subtly embedded in the back.
TrendsDec 08, 2025
Amanda’s Style File: Celebrating December’s BirthstonesDon’t let those with December birthdays feel blue. Help them celebrate their month with blue zircon, turquoise, and tanzanite.
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
