US hits state-owned Myanmar gem firm with coup sanctions
WASHINGTON (AP) — The Biden administration on Thursday hit Myanmar’s junta with new sanctions in response to February’s coup in the Southeast Asian nation.
The State and Treasury departments announced they were imposing sanctions on the country’s main, state-owned gem company, Myanmar Gems Enterprise. The sanctions freeze any assets the firm holds in the U.S. or in U.S. jurisdictions and bar American citizens from doing business with it.
The company is a major exporter of gems and semi-precious stones like jade, which bring in significant amounts of revenue to government coffers.
Secretary of State Antony Blinken said the sanctions send “a clear signal to the military that the United States will keep increasing pressure on the regime’s revenue streams until it ceases its violence, releases all those unjustly detained, lifts martial law and the nationwide state of emergency, removes telecommunications restrictions, and restores Burma to the path of democracy.”
https://www.msn.com/en-us/news/world/us-hits-state-owned-myanmar-gem-firm-with-coup-sanctions/ar-BB1frqGh
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