US imposes sanctions on Myanmar state gem corporation
The United States imposed sanctions on Myanmar’s state-owned gem company on Thursday as part of its efforts to increase pressure on the country’s military following a coup last month.
The sanctions on Myanmar Gems Enterprise freeze any assets it holds in the United States and prohibit Americans from doing business with it. The company is a major exporter of gems and semi-precious stones like jade, which bring in significant revenue for the military.
The company was targeted because of its ties to the military, which took control of the country on February 1, overthrowing the elected government and detaining civilian leaders.
(This article has been published without a writer in the newsroom).
