The US on Thursday imposed what it calls its most significant sanctions to date over the military coup in Myanmar, restricting dealings with two giant Burmese military holding companies that dominate much of the country’s economy.
The sanctions are the latest imposed by the administration of US President Joe Biden and European governments on Myanmar since Feb. 1, when the country’s military seized power on the day a newly elected parliament was due to be sworn in.
Burmese security forces have since then killed and detained protesters amid demands for a return to civilian government.
Photo: EPA-EFE
At least 320 people have been killed, the Assistance Association for Political Prisoners (AAPP) said.
The sanctions “target those who led the coup, the economic interests of the military, and the funding streams supporting the Burmese military’s brutal repression,” US Secretary of State Antony Blinken said in a statement.
The new measures bar US dealings with the two military holding companies, which have sweeping business involvement in trades ranging from the sale of alcohol and cigarettes to agriculture, banking and mining. The companies distribute profits to the military and its members.
Human rights groups were enthusiastic about the new US sanctions.
Many had faulted previous US measures as being little more than gestures, given how little direct business Myanmar’s coup leaders do with US businesses.
The new measures could bar banks from even using US dollars in transactions with the two military holding companies, Human Rights Watch deputy Asia director Phil Robertson said.
“Targeted sanctions that mean something!” he wrote on Twitter.
After a half-century of military rule, Burmese generals had over the past decade allowed democratic elections, bowing to international pressure and sustained democracy campaigns within the country.
The US had lifted sanctions in response to the democratic reforms, but in 2019 reimposed many against the military in response to the widespread killing of members of Myanmar’s Rohingya ethnic Muslim minority.
Additional reporting By Reuters
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