BELOW SUPERNAV drop zone ⇩

New US sanctions target military conglomerates in Myanmar

U.S. Secretary of State Antony Blinken delivers an address after a meeting of NATO foreign ministers at NATO headquarters in Brussels on Wednesday, March 24, 2021. (AP Photo/Virginia Mayo, Pool)

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

maylen

https://digital-stage.newsnationnow.com/

AUTO TEST CUSTOM HTML 20241114185800

AUTO TEST CUSTOM HTML 20241115200405

AUTO TEST CUSTOM HTML 20241118165728

AUTO TEST CUSTOM HTML 20241118184948

WASHINGTON (AP) — The United States on Thursday imposed what it calls its most significant sanctions to date over the military coup in Myanmar, restricting American dealings with two giant Myanmar military holding companies that dominate much of that country’s economy.

The sanctions are the latest that the Biden administration and European governments have laid on Myanmar since Feb. 1, when the country’s generals seized power on the day a newly elected parliament was due to be sworn in. Security forces since then have killed and detained street protesters amid demands for a return to civilian government.

Thursday’s sanctions “target those who led the coup, the economic interests of the military, and the funding streams supporting the Burmese military’s brutal repression,” Secretary of State Antony Blinken said in a statement.

The new measures generally bar any American dealings with the two military holding companies, which have sweeping business involvement in trades ranging from the sale of alcohol and cigarettes to agriculture, banking and mining. The companies distribute profits to Myanmar’s military and its members.

The United Kingdom would be taking similar action against one of the holding companies, Blinken said.

After a half-century of authoritarian, isolating military rule, generals in the Southeast Asian nation over the past decade had allowed democratic elections, bowing to intense international pressure and sustained pro-democracy campaigns within the country.

The U.S. had lifted sanctions in response to the democratic reforms, but reimposed many against the military in 2019 in response to the widespread killing of members of Myanmar’s Rohingya ethnic Muslim minority.

The Biden administration says it is targeting the military in sanctions and seeking to avoid worsening conditions for the country’s civilians.

World

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

AUTO TEST CUSTOM HTML 20241119133138

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Sunny

la

51°F Sunny Feels like 51°
Wind
2 mph E
Humidity
48%
Sunrise
Sunset

Tonight

Partly cloudy skies. Low 47F. Winds light and variable.
47°F Partly cloudy skies. Low 47F. Winds light and variable.
Wind
2 mph NNE
Precip
7%
Sunset
Moon Phase
Waning Gibbous