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Showing posts with label Gems. Show all posts
Showing posts with label Gems. Show all posts

Sunday, April 11, 2021

Treasury Sanctions Key Gems Enterprise in Burma

U.S. Embassy in Burma
By U.S. Mission Burma
April 8, 2021



WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Myanma Gems Enterprise (MGE), a Burmese state-owned entity that is responsible for all gemstone activities in Burma. Gemstones are a key economic resource for the Burmese military regime that is violently repressing pro-democracy protests in the country and that is responsible for the ongoing lethal attacks against the people of Burma, including the killing of children. These sanctions are not directed at the people of Burma.

“Today’s action highlights Treasury’s commitment to denying the Burmese military sources of funding, including from key state-owned enterprises throughout Burma,” said Andrea Gacki, Director of the Office of the Foreign Assets Control. “The United States will continue to work tirelessly, including with partners throughout the region and the world, to support the restoration of democracy and rule of law in Burma and to bring accountability to those who seek to undermine these values.”
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