Myanmar’s regime is holding a gems emporium, a major revenue earner for the junta, in Naypyitaw, selling more gems than previous events, reports the Irrawaddy.
There has been an increasing interest in [selling gems in] dollars or euros amid a hard currency crisis as foreign investment fell and western countries imposed sanctions. The National Unity Government warned domestic businesses not to participate and said it would blacklist any trader taking part as sales bankroll the regime.
In July, UK retailer John Lewis said it would stop sourcing gems from Myanmar in response to pressure from Burma Campaign UK. In June TJC — one of the biggest TV shopping channels and online jewellery retailers in the UK — said it had stopped selling rubies and gems from Myanmar.