Monaco updates Myanmar sanctions entry for state gems enterprise
Monaco updated sanctions data tied to Myanmar’s military-controlled gemstone sector, amending the entry for state-owned Myanma Gems Enterprise in a ministerial decision dated Aug. 3.
MONACO, August 3, 2026 — Monaco amended an existing Myanmar sanctions entry for a state gems enterprise whose revenue can benefit the country’s armed forces, changing data relevant to sanctions screening and list maintenance.
Minister of State Decision No. 2026-89 modifies Monaco’s 2021 framework for applying international economic sanctions. The action affects one legal entity, Myanma Gems Enterprise, under the EU sanctions regime concerning Myanmar, formerly known as Burma.
Myanma Gems Enterprise, or MGE, is a state-owned business controlled by Myanmar’s armed forces, known as the Tatmadaw. It develops regulations, oversees and issues permits to local private operators, and organizes jade and gemstone fairs and special sales. The company operates under the Ministry of Natural Resources and Environmental Conservation.
The stated grounds link MGE to the military’s longstanding interests in the jade and gemstone sector. Military control following the Feb. 1, 2021, coup allowed the Tatmadaw to exercise broad control over the industry and benefit directly or indirectly from its revenue. MGE is described as contributing to the military’s capacity to undermine democracy and the rule of law and commit serious human-rights violations.
The current sanctions data include the aliases “MGE” and “Myanmar Gems Enterprise,” an address in Naypyitaw, Myanmar, its status as a state-owned enterprise and its website. Such identifiers can affect how the entity appears in screening systems.
The revised entry cites EU measures from 2021 and 2026, including an Aug. 3 corrigendum to EU Regulation 2021/998.
Regulatory Actions
Structured data extracted from official sources and validated by sanctions experts