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The United
States has announced sanctions on Myanmar's defense ministry and two banks
utilized by the military regime to acquire arms and other goods from foreign
sources.
The move comes
in response to the military's brutal repression and reliance on foreign
entities, including sanctioned Russian entities, for weapons procurement.
US Sanctions on Myanmar's Military Regime:
The US Treasury
Department revealed that Myanmar's military, which seized power in a 2021 coup,
has faced multiple rounds of sanctions from the US and other Western nations.
The military's
actions, including indiscriminate air attacks and destruction of civilian
villages, have escalated the crisis in the country.
Myanmar's Military Response to Sanctions:
Myanmar's
military regime dismissed concerns regarding the new sanctions, stating that
the country has previously weathered such measures without significant losses.
The regime
accused the US of imposing sanctions to hinder economic and political progress
towards a multiparty democratic system.
Potential Financial Impact on Thailand and Region:
Thai sources
cited by the Bangkok Business News suggest that the sanctions could have
financial repercussions for Thailand and other countries in the region due to
their connections with the sanctioned banks.
The US embassy
affirmed ongoing discussions with the Thai government to mitigate any adverse
effects of the sanctions.
Effect on Military Funding and Rebellions:
Experts believe
that while the sanctions do not directly target gas projects, a key revenue
source for the military administration, they could impact the regime's ability
to fund its conflicts against ethnic groups and rebellions.
Campaign group
EarthRights International previously highlighted the banks' significance as
foreign currency treasuries for the military, which relies on foreign currency
for essential supplies.
(Courtesy: Al-Jazeera)
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