Tag: Justice For Myanmar

Indian firm Vaibhav Global Limited allegedly selling Myanmar gems in US, despite sanctions: Justice For Myanmar

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Photo collage- justiceformyanmae.org

November 24, 2021, Myanmar: Indian publicly listed jewellery company Vaibhav Global Limited is allegedly continuing to trade in Myanmar gems, despite the illegal February 1 attempted military coup and US, EU and UK sanctions against state-owned Myanma Gems Enterprise (MGE), which is now under military control. Through MGE, the Myanmar military receives a share of revenue from all gemstones sold.

Vaibhav Global allegedly sells jewellery with Myanmar gems via major online retailers including Amazon and Overstock, as well as its own website and TV channel, The Jewellery Channel. In the US, Vaibhav Global also sells loose rubies from Mogok and Mong Shu, Myanmar, but list the country of origin as “India”.

A ban on Myanmar origin gems is urgently needed to stop the trade. Section 203 of the Burma Act of 2021, introduced in October and currently before Congress, authorises the prohibition of all US imports of Myanmar gemstones. Justice For Myanmar urges members of Congress to stand with the people of Myanmar by passing the Burma Act and prohibit imports of Myanmar gemstones.

Justice For Myanmar spokesperson Yadanar Maung says: “It is unacceptable that over six months since sanctions were imposed on MGE, companies are openly trading Myanmar gems in the US and other jurisdictions. This is a slap in the face of the Myanmar people, who are being subjected to immense suffering at the hands of the terrorist military junta. The US Government needs to do more, including imposing a total ban on the import of Myanmar gemstones and sanctioning Myanma Oil and Gas Enterprise.

We also call on other international governments to urgently impose targeted sanctions that will stop the flow of funds to the Myanmar military, which finance its campaign of terror. We appeal to members of the US Congress to swiftly pass the Burma Act and ban all imports of Myanmar gemstones. Vaibhav Global investors also must act in accordance with their obligations under the OECD Guidelines.

If Vaibhav Global does not stop trading in Myanmar gems, shareholders must divest. These gems are stained with the blood of the people of Myanmar. US consumers have power to act. Boycott Myanmar gems and demand businesses like Amazon and Overstock stop selling these blood-stained products.”

According to filings, Vaibhav Global’s institutional shareholders include The Vanguard Group, Dimensional Fund Advisors, State Street Global Advisors, BlackRock and the Florida State Board of Administration, all based in the US. The USA is Vaibhav Global’s biggest market, with 2021 financial year revenue at US$234.9 million, according to its latest annual report.

Source : Media release, Justice for Myanmar.

Justice For Myanmar : Call to dismantle Myanmar’s military cartel’s business interests and systemic corruption

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Photo- Justice For Myanmar

By SAT News Desk

MELBOURNE, April 28, 2021: Today is the first anniversary of Justice For Myanmar, launched on April 28, 2020, to campaign against the Myanmar military’s extensive business interests and systemic corruption, which enable them to commit crimes against Myanmar people. The campaign was initiated by a covert group of activists working for the protection of rights, equality, justice, and accountability.

Justice For Myanmar is part of a wider movement striving for a better future for Myanmar, where there is a federal democracy, sustainable peace, and the military is divested from the economy, fully under civilian control.

The domestic campaign targeting the military’s businesses has grown exponentially since the illegal Feb. 1, 2021 coup, as military products symbolize the military’s violent oppression, greed, and corruption. A large-scale boycott against items like Mytel SIM cards and Myanmar Beer has caused an unparalleled blow to the military’s bottom line.

The movement against the military’s business networks has spread across the world, and the military is losing its profits. Activists have ramped up campaigns targeting nodes in the military’s business networks, while journalists from around the world have independently exposed the military’s business interests in impactful and detailed investigations.

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Photo- Justice For Myanmar

The pressure has taken a toll on businesses that are linked to the military. Since the coup,

• Targeted sanctions have been imposed on MEHL, MEC, junta leaders, and their family businesses by the US, UK, and EU.

• Kirin Holdings and POSCO C&C have announced an end to their joint ventures with the military.

• Singapore investor Lim Kaling has exited from the military’s tobacco monopoly.

• The Singapore Stock Exchange took regulatory action against a real estate developer leasing land from the army.

• Électricité de France and Woodside Energy have suspended business with the junta.

• Coda Payments and Fortumo, direct carrier billing businesses, cut ties with Mytel.

• The Myanmar junta has been restricted from accessing a Japanese micro-satellite.

• Adani Ports has been removed from the Dow Jones Sustainability Index.

• Banks and pension funds in Norway, Sweden, Denmark, and the Netherlands are taking action against their military-linked investments.

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Justice For Myanmar spokesperson Yadanar Maung says: “There’s been a fierce and unprecedented move to end military rule that has exploded since the coup, with people across Myanmar risking their lives and livelihoods for a better future, free from military violence and oppression. Despite the terror campaign waged by this military junta against the people of Myanmar, the people will not be silenced or stopped. We honor those whose lives have been robbed, who have sacrificed for this cause, including activists, ethnic freedom fighters, whistle-blowers, public and private sector workers, and journalists. Together, we must and will dismantle the military cartel. Removing the Myanmar military from business is imperative to establish a federal democracy. The military must be pushed back to the barracks where they belong.”

The work of Justice For Myanmar follows the 2019 United Nations Independent International Fact-Finding Mission on Myanmar report, The Economic Interests of the Myanmar Military, which recommended that businesses cut all financial ties with the Myanmar military. Justice For Myanmar aims to ensure that the UN FFM’s recommendations are implemented.