24 C

Explanatory. Myanmar’s sanctioned military business is spreading across the spectrum

BANGKOK (AP) – The two vast communities under Myanmar’s military control of the United States and Britain, which were targeted by sanctions after a military coup last month, cover a wide range of businesses.

Human rights activists have welcomed the decision to target these companies, suspending their dealings with US և UK banks և businesses. Critics of the February 1 military coup, the imprisonment of Aung San Suu Kyi and other civilian leaders, as well as the killing and imprisonment of thousands of mostly peaceful protesters, say more needs to be done to put pressure on army leaders.

They are still urging governments to take action against another powerful empire, Myanmar Oil & Gas Enterprise, which does business with major foreign oil companies.


The human rights fact-finding mission found that Myanmar Economic Holdings Ltd. (sometimes spelled Myanma) և Myanmar Economic Corp. owns or controls more than 100 subsidiaries in many industries. Another 27 economic entities are interconnected with one of the two assemblies. It covers everything from rubber plantations, dairy farms to jewelers, telecommunications services, construction, manufacturing, insurance and real estate companies. Proceeds from many of these businesses help support the military. Foreign companies renting offices in buildings controlled or owned by factories in the MEC և MEHL or industrial areas controlled by them will have to find a way to make sure they do not provide funding to the military.


The United Kingdom has announced that it will punish the MEHL. US Treasury Department sanctions prohibit business, other transactions, or trading with listed companies or companies unless they have exceptions or special permission. They could ban banks from even using the US dollar, the world’s leading currency, in transactions with two military holding companies. Sanctions exempt transactions necessary to run the US government business or provide humanitarian aid and promote democracy. The assets of և companies և listed as Specially Designated Citizens are also frozen or blocked. The governments of the United States, Canada, and the United Kingdom have previously imposed sanctions on top military leaders and members of their immediate families, as well as some other military officials and units responsible for violence against protesters.


It is unclear how much the sanctions will affect the army’s cash flow, as Myanmar’s Asian neighbors, its largest investors and trading partners, avoid their own restrictions on doing business with the junta. Human rights groups still welcomed the new sanctions. They will be more widespread than previous measures taken against the leaders of the Myanmar coup, which deal less directly with US banks or other US businesses. In order to avoid sanctions, it is necessary to demand greater due diligence with American-British companies that do business with companies.


Human rights activists call on the European Union ություններին Asian governments to join efforts to put pressure on the armed forces to respect 2020. Election results ելու to release Aung San Suu Kyi այլ other civilian leaders. Direct UN sanctions are unlikely to be backed by China-Russia, a member of the Security Council. In Southeast Asia, Japan, Japan, and South Korea, Myanmar is not inclined to support sanctions. Another idea that has been raised is that companies operating the state-owned Myanmar Oil & Gas Enterprise should withhold royalty payments until the political crisis is resolved. Its foreign partners include Total SA of France, Chevron Corp. and PTT Public Co. of Thailand. Ltd.

WHY Sanctions?

So far, the crackdown on the military leadership is not a blanket trade embargo that will cause widespread hardship to much of Myanmar’s population. Experts and activists urge that these measures be aimed at the armed forces that carried out the military coup and their leaders, who suppressed the public reaction against it. Meanwhile, many people in Myanmar have gone on strike, disrupting banking, train and other businesses in an attempt to exert economic pressure from within the country.


Please enter your comment!
Please enter your name here