SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
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.
Editors' Picks
Sponsored by
More on Policies & Issues
The Latest
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
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.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
IndependentsSep 29, 2026
Christy Bromberg, Longtime Gift Buyer for Underwood Jewelers, Dies at 68She is remembered for her joie de vivre, upbeat personality, genuine interest in other people, and love of the Alabama Crimson Tide.
AuctionsSep 29, 2026
Dionne Warwick’s Jewelry Goes Up for AuctionOnline bidding is open now for Julien’s sale of items owned by the “Walk On By” singer, whose final album comes out this fall.
Events & AwardsSep 29, 2026
Matt Stuller to Receive 2027 Gem Award for Lifetime AchievementThe founder and executive chairman of Stuller Inc. is being honored for his impact on the jewelry industry at the 25th annual Gem Awards.
ColumnistsSep 29, 2026
Your Holiday Marketing Has a Bridal Blind SpotDecember is the most popular month to propose, and jewelers need to keep that in mind when planning their holiday marketing.
AuctionsSep 29, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s collection of cat jewelry and other objects is going up for auction Wednesday.
CollectionsSep 28, 2026
De Beers London Drops Water-Inspired High Jewelry Collection“Vibrations” features several firsts for De Beers’ high jewelry, including the use of chalcedony and diamonds sourced from artisanal miners.
CollectionsSep 28, 2026
Jessica McCormack Turns to Classic Motif for New CollectionThe “Bows” collection features three interpretations of the bow motif designed with Georgian and Victorian influences.
Events & AwardsSep 28, 2026
Guy Borenstein, Troy Underwood Among the Professionals Honored at AGS Conclave 2026The American Gem Society recognized industry members, one Guild, and a law enforcement official for their contributions to jewelry.
FinancialsSep 28, 2026
Instappraise, Jewelers Mutual Look to Simplify Jewelry InsuranceThrough a new system integration, customers can now receive instant personal jewelry insurance quotes at the time of appraisal.
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
MajorsSep 25, 2026
Sherwood Family Buys Back Daniel’s Jewelers from Private EquityThe Sherwood family and AJS Creations CEO Tejas Shah purchased the jewelry chain back from Palladium Equity Partners.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
