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US to blacklist Myanmar military companies after deadly crackdown – sources

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The military controls vast swathes of Myanmar’s economy through the holding firms and their subsidiaries, with interests ranging from beer and cigarettes to telecom, tires, mining, and real estate.

The White House National Security Council referred inquiries to the Treasury Department, which did not immediately respond to requests for comment.

Activists have been calling for sanctions to starve the military of revenue, and want governments to go further and hit oil and gas projects that are a major source of revenue to Myanmar.

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U.S. and Britain blacklist Myanmar military-controlled companiesThe United States and Britain imposed sanctions on conglomerates controlled by Myanmar’s military on Thursday, following the generals’ Feb. 1 coup and deadly crackdown, with Washington calling it a response to “abhorrent violence and abuses.”
Source: inquirerdotnet - 🏆 3. / 86 Read more »