The United States continues to expand sanctions actions against the repressive military regime in Burma. The Office of Foreign Assets Control, OFAC, has designated ten government-controlled Myanmar companies involved in mining, distribution, sales and financing of the country's precious gems industry. Compliance officers at International banks who have clients transacting business with overseas suppliers would be well advised to ascertain immediately whether any of their clients are presently purchasing jewellery from Burmese entities, to ensure that no OFAC violations occur in pending transactions.

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