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Burmese ruby ban likely to be undermined

Author: Raphael Minder, Financial Times, Published on: 17 November 2008

In theory, the [US] ban [on Burmese rubies]...should have a significant impact on the trade in gemstones, particularly rubies, since Burma is the world’s largest producer. In practice, however, some jewellers and traders see Washington’s clampdown as futile... Somchai Phorchindarak, chief executive of the Bangkok Gems and Jewellery Fair, says the US is missing its intended target, punishing instead small Burmese miners and farmers who search for gems, and the cutters and manufacturers who turn them into jewellery abroad... Ronald Abram, whose eponymous business is one of Asia’s leading jewellers, also draws a distinction between African blood diamonds and Burmese rubies... Jewelers of America...says customer needs can be met without Burma. [also refers to Cartier (part of Richemont), Bulgari]

Read the full post here

Related companies: Bulgari Cartier (part of Richemont) Richemont