Thursday’s actions were the most significant by far against the business interests of Myanmar’s military, which range from beer and cigarettes to telecommunications, tires, mining and real estate.
Washington’s move freezes any assets held by the entities in the United States and is the latest in a series of sanctions following the military takeover that have targeted Myanmar’s central bank as well as top generals. U.S. Secretary of State Antony Blinken said the Myanmar military “have taken increasingly disturbing actions aimed at their own citizens since February 1.”“These actions will specifically target those who led the coup, the economic interests of the military, and the funding streams supporting the Burmese military’s brutal repression,” he said. “They are not directed at the people of Burma.
“More must be done to deny the army its economic lifeline and to deny it the weapons of war. The United States should play a leading role in urging our partners and allies, including members of ASEAN, to take steps to cut off funding for the military,” he said, referring to the Association of Southeast Asian Nations.Human Rights Watch said the sanctions would create significant difficulties for the conglomerates in doing business with outside companies.