28-5-2021
Britain’s foreign secretary Dominic Raab announces sanctions on Myanmar Gems Enterprise (MGE), in a bid to cut the military junta’s key source of funding.
MGE is a state-owned company that oversees all gemstone activities, including mining and marketing of fei cui and other gemstones, in the country and is now under the junta’s control following the military coup on 1 February. The sanction freezes MGE’s asset which are owned or controlled by the designated entity and held in the UK. It also blocks others from providing funds or economic resources to the designated individual or entity.
The announcement follows the G7 and ASEAN meetings which stressed the united view of the international community in opposition to the actions of the military junta in Myanmar. The United States imposed sanctions on MGE in early April.
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