Washington bans Burmese state-owned gem production company

Washington bans Burmese state-owned gem production company

The United States on Thursday announced sanctions against a Burmese state-owned company that produces precious stones, saying it wanted to overthrow the Manna military junta, which has led to severe repression of pro-democracy protesters.

The U.S. Treasury Department has announced that it will freeze all affected property Myanmar will ban any transaction with James Enterprise, which oversees the mining and marketing of jade and other precious stones. Washington promises “The Burmese military is losing financial resources, especially from major government agencies across Burma“Andrea Khaki, the manager overseeing the sanctions, said.

Sanctions against leaders

America will continue to work tirelessly, With partners in the region and around the world, for the restoration of democracy and the rule of law in Burma, and for holding accountable those who seek to undermine these values.

The US administration has already imposed targeted sanctions against Burmese military leaders who seized power by arresting civilian leader Aung San Suu Kyi on February 1, and has severely cracked down on any opposition, killing hundreds.

The sanctions announced on Thursday did not go far enough to re-impose a total ban on the sale of Burmese jade and gems, as was the case during the previous regime. The move, raised by the US Congress in 2016, has been accused of harming minorities and businesses already affected by the military yoke.

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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