Myanmar: US blacklist ministries and army conglomerates

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People in Myanmar are building a barricade: Police continue to break up demonstrations with tear gas and gunfire in several cities across the country

Photo: STR / AP

The US is re-sanctioning the Myanmar army and has blacklisted two ministries and major military conglomerates for trade.

"We will not allow the Burmese military to continue to have access to goods that are subject to export regulations," said the US Department of Commerce.

The two blacklisted companies - Myanmar Economic Corporation and Myanmar Economic Holdings Limited - are among the top military conglomerates, which through the holding companies and their subsidiaries control large parts of Myanmar's economy.

The sanctions also apply to the country's defense and interior ministries.

In addition, Myanmar is said to have export control restrictions for "military end-use" imposed.

The US Department also wants to examine further measures.

In addition, the US government is said to have blocked an attempt by Myanmar's military government to withdraw around one billion dollars in deposits from the US.

The Reuters news agency reported, citing people familiar with the process.

First, the Fed's security mechanisms had stopped the transaction on behalf of the Central Bank of Myanmar on February 4th, it said.

Then US government officials would have delayed approving a transfer of the money from the holdings of the Fed subsidiary in New York.

During this time, President Joe Biden created the legal basis by decree to block the transfer indefinitely.

There are no official statements yet.

Response to the violent crackdown on peaceful protests

The military in Myanmar had carried out a coup on February 1st and justified this with election fraud.

In the wake of the takeover, the military appointed a new head of the central bank.

Biden announced on February 10 that the US was taking steps to prevent the military from having "improper access" to the country's government funds in the US.

US government officials did not provide any further information about the process at the time.

The USA, the European Union and Great Britain imposed new sanctions after the coup.

The measures are seen as a response to the violent suppression of peaceful protests against the takeover of power.

Police continue to break up demonstrations with tear gas and gunfire in several cities across the country.

The United Nations reports that at least 54 protesters have been killed and more than 1,700 people arrested so far.

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