OFAC designates Burmese state-run gemstone enterprise

Pursuant to Executive Order 14014, OFAC has designated Myanma Gems Enterprise (MGE), a Burmese state-owned entity, for being a political subdivision, agency or instrumentality of the Burmese government. MGE operates under the Ministry of Natural Resources and Environmental Conservation, and is responsible for all gemstone-related activities in Myanmar, which are said to be a key economic resource for the Burmese military. See OFAC Notice and press release.

The State Department’s press release adds that “the US 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”.

Burma / MyanmarBurma / Myanmar United StatesUnited States

About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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