The U.S. imposed sanctions on two state-owned enterprises in the timber and pearl industries in Myanmar on Wednesday, as the U.S. ramps up pressure on the military regime in the country in responseThe U.S. Treasury’s Office of Foreign Assets Control, which implements and enforces U.S. economic and trade sanctions, blacklisted Myanma Timber Enterprise and Myanmar Pearl Enterprise, alleging the two provide key sources of revenue for the country’s military. The U.S.
Efforts to reach the Myanma Timber Enterprise weren’t successful. The Myanmar Pearl Enterprise and Myanmar’s embassy in Washington didn’t immediately respond to requests for comment.Our Morning Risk Report features insights and news on governance, risk and compliance.“The United States will continue to target specific funding channels and promote accountability for the coup and related violence,” Antony Blinken, the U.S. secretary of state, said in a statement.
The Treasury said the sanctions aren’t directed at the people of Myanmar, which is also known as Burma. The U.S. has sought to cut off funds and seize assets of those who directed the Feb. 1 takeover. The Treasury said the Myanma Timber Enterprise, a state-owned enterprise under the country’s Ministry of Natural Resources and Environmental Conservation, is responsible for the production and export of timber on behalf of the Myanmar military regime.
Myanmar is imposing sanctions on the USA, pausing synthetic drug exports to America's Inner Cities.....
A very correct step drain the money sources of the military junta and they won't met their goals. People's democratic rights should be given back to rightful owners.
USA should do the same for the all dictators around the world 🔺🔺🔺
Myanmar Junta laughing their asses off
Should be blacklisted by everyone!
The real reasons for the military coup in Myanmar.