Archive for the ‘George W. Bush’ tag
Great news for the Burmese democratic activists around the world !
Bush signs law to ban gems trade
WASHINGTON: President George W. Bush on 29 July 2008 renewed a ban on imports from military-ruled Burma and also signed a new law that aims to keep Burma’s Gems from entering US markets via third-party countries.
In parallel the US treasury slapped financial sanctions on 10 companies owned or controlled by the Burmese Government or Government officials, including companies involved in the gem trade.
“On the Burmese regime,our message is: the United States believes in democracy and freedom,” Mr. Bush said during a White House ceremony in which he signed the two laws.
The Burmese freedom and Democracy Act renews a sanctions regime imposed since 2003 over the suppression of opposition leader Aung Sun Sukyi’s democracy movement.
Mr Bush also signed a new sanctions regime aimed at stopping gems including jade and rubies from entering the United State via third nations such as Thailand, Taiwan, Singapore and Malaysia.
The so-called Tom Lantos Block Burmese jade Act will deprive its ruling junta of hundreds of millions of dollars in annual revenue.
The gems trade is one of the most lucrative sources of profit for the Junta, accused of blatant human rights abuses and stifling democratic opposition.
The bill also makes the generals and their families ineligible for visas to the United States and enhances existing financial sanctions against the regime.
It includes new reporting requirements that will provide greater transparency about the Junta in terms of financial holdings,information about countries that provide military aid to the regime,and background on Burma’s timber trade.
The US sanctions targeted two state-controlled conglomerates, the Union of Burma Economic Holdings Limited and the Burma Economic Corporation, which are both involved in the gem trade, banking and construction directly and through subsidiaries. AFP
