Myanmar Coup: Joe Biden administration launches new sanctions regime targeting the Myanmar military
Washington: US President Joe Biden has launched a new sanctions regime targeting the Myanmar military and its leaders, as well as their business interests, following the coup which hit the political situation of the South Asian country.
"The U.S. Department of the Treasury designated 10 individuals and three entities for their association with the military apparatus responsible for the coup. Among these individuals are six members of the National Defense and Security Council, including Commander-in-Chief of the Burmese military forces Min Aung Hlaing and Deputy Commander-in-Chief of the Burmese military forces Soe Win, as well as four members of the State Administration Council. Under the new Executive order signed by President Biden, Treasury can also target the spouses and adult children of these individuals," the White House said in a statement.
"Three entities, including Myanmar Ruby Enterprise and Myanmar Imperial Jade Co., LTD. which are wholly owned subsidiaries of a conglomerate owned or controlled by the Burmese military, have also been designated," it said.
The Department of Commerce is taking immediate action to limit exports of sensitive goods to the Myanmar military and other entities associated with the recent coup.
"A series of immediate export restrictions is being imposed on Burma’s Ministry of Defense, the Ministry of Home Affairs, armed forces, and security services in response to their recent activities. We will continue to assess and develop additional regulatory amendments to impose further export restrictions on the Burmese military to ensure that entities involved in the dismantling of democratic norms and institutions do not have access to U.S. technologies," read the White House statement.
The United States said it will continue to work with our partners throughout the region and the world to support the restoration of democracy and the rule of law, as well as to hold accountable those responsible for overturning Burma’s democratic transition.
Myanmar's military on February 1 carried out a coup and arrested State Counselor Aung San Suu Kyi and other top officials after accusing them of election fraud.
The military has declared a state of emergency for one year, promising to hold a new election after it expires.
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