U.S. President Barack Obama has reportedly waived sanctions against the trade of ruby and jadeite from Myanmar/Burma. The move is intended to fulfil the announcement made last month by President Obama during the visit of State Counsellor Aung San Suu Kyi.

President Obama’s Executive Order, “Termination of Emergency with Respect to the Actions and Policies of the Government of Burma” terminated the national emergency, revoked previous executive orders, and waived the financial and blocking sanctions on the Tom Lantos Block Burmese JADE Act of 2008. The economic and financial sanctions on Burma that were previously administered by OFAC are no longer in effect, and import of Burmese rubies and jadeites can resume.

The report further mentioned that termination of the Burma sanctions does not impact Burmese individuals or entities blocked pursuant to other OFAC sanctions authorities, and they may remain on other watch lists. Remember to check the watch lists before doing business with any entity and to follow all existing U.S. Customs regulations when importing jewellery products into the U.S.

Since 2003, the U. S. government had banned the importation of gemstones from Burma (Myanmar), especially valuable ruby and jadeite.