MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
Policies & IssuesApr 22, 2021
US Government Sanctions Burmese State-Owned Pearl Co.
Myanmar Pearl Enterprise handles oyster fishing and breeding, as well as the culturing, harvesting, and selling of pearls.
Washington, D.C.—The U.S. government has sanctioned another Burmese gem company in an effort to block sources of revenue for the military regime.
The Treasury Department’s Office of Foreign Assets Control said in a statement Wednesday it has designated the pearl export body Myanmar Pearl Enterprise (MPE), meaning U.S. companies are prohibited from doing business with MPE or any of its affiliates.
The move also freezes its U.S. assets.
MPE is a state-owned enterprise under the country’s Ministry of Natural Resources and Environmental Conservation that provides a key source of revenue to Myanmar’s now-military-controlled government, the office said.
It’s responsible for oyster fishing, collecting, and breeding as well as the culturing, harvesting, and selling of pearls, which it does through the Myanmar Pearl Event.
MPE also approves licenses for oyster fishing and oyster shell collecting/selling, as well as registration of oyster diving vessels and pearl and oyster technicians.
“The Burmese military derives significant funding from state-owned enterprises in the natural resources market,” said OFAC Director Andrea Gacki.
“Today’s action demonstrates the United States’ commitment to targeting this specific funding channel and promoting accountability for those responsible for the coup and ongoing violence.”
Data regarding the size of the Burmese pearl market wasn’t available by press time.
The Treasury Department’s Office of Foreign Assets Control said in a statement Wednesday it has designated the pearl export body Myanmar Pearl Enterprise (MPE), meaning U.S. companies are prohibited from doing business with MPE or any of its affiliates.
The move also freezes its U.S. assets.
MPE is a state-owned enterprise under the country’s Ministry of Natural Resources and Environmental Conservation that provides a key source of revenue to Myanmar’s now-military-controlled government, the office said.
It’s responsible for oyster fishing, collecting, and breeding as well as the culturing, harvesting, and selling of pearls, which it does through the Myanmar Pearl Event.
MPE also approves licenses for oyster fishing and oyster shell collecting/selling, as well as registration of oyster diving vessels and pearl and oyster technicians.
“The Burmese military derives significant funding from state-owned enterprises in the natural resources market,” said OFAC Director Andrea Gacki.
“Today’s action demonstrates the United States’ commitment to targeting this specific funding channel and promoting accountability for those responsible for the coup and ongoing violence.”
Data regarding the size of the Burmese pearl market wasn’t available by press time.
Feels like Treasury/State keep upping the ante as they find more ways that the Burmese military regime enrich themselves using the natural resources of the country. Expect this to continue.
— Sara Yood (@saraeyood) April 21, 2021
Wednesday’s move to sanction Burmese pearls is far from the first step the U.S. government has taken to cut off the resources being funneled to the Burmese military responsible for the Feb. 1 coup.
And it’s not likely to be the last as the U.S. government continues its investigation into where the military is getting its money.
In regards to the gem trade, sanctions so far have included two of the country’s entities with mining interests, three gemstone companies, and Myanma Gems Enterprise, the state-owned entity responsible for nearly all gem activities in Myanmar.
More on Policies & Issues
The Latest
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
FinancialsJul 16, 2025
Richemont’s Jewelry Sales Up 7% in Q1It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth GenerationJake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
SourcingJul 14, 2025
Ethical Gem Fair Heads to SeattleThe trade-only event will host its debut fair in the Emerald City later this month.
Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
