08 Aug US extends Myanmar gem ban
The United States on Wednesday renewed a ban on the import of gems from Myanmar, hoping to choke off a funding source for the powerful military after broader sanctions ended.
President Barack Obama, who has otherwise normalized relations with Myanmar to reward its democratic reforms, issued an executive order to maintain a ban on rubies and jadeite.
Myanmar economist Dr. Aung Tun Thet says that the country’s business leaders should be ready to “grab every opportunity” that comes available once the European Union (EU) lifts economic sanctions.
The EU eased restrictions on April 23, 2012, and agreed to a one-year suspension of measures targeting almost 500 individuals and more than 800 firms in Myanmar.