US sanctions Myanmar banks, ministry of defence

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US sanctions Myanmar banks, ministry of defence
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The Thailand-based Assistance Association for Political Prisoners watchdog organization says 3,685 people have been killed by the military since the coup. theSun theSundaily Myanmar sanctions WorldNews

: The United States imposed sanctions against Myanmar’s two largest regime-controlled banks and its ministry of defence on Wednesday as the Biden administration targets revenue sources propping up the military junta and its ability to repress its people, reported UPI.

Myanmar has been ruled by its military since its coup of Feb 1 2021, which saw the overthrowing of its civilian-led government and the jailing of its leaders, including Noel Peace Prize-winner Dawn Aung San Suu Kyi. The banks targetted by the Biden administration on Wednesday convert the local currency of kyat to US dollars and euros, which the Treasury said allows junta-owned businesses to access international markets via offshore accounts while allowing sanctioned military entities to purchase arms and other materials from foreign nations.

US nonprofit EarthRights International, while applauding the Wednesday sanctions, urged the United States to follow the European Union and sanction Myanma Oil and Gas Enterprise, the junta’s largest source of foreign currency, which the 27-member bloc did in February of 2022.

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