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Senators call on Biden to impose more sanctions on junta
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US Senators urge Biden to impose more sanctions on Myanmar junta
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The senators are urging the administration to choke off funds to Myanmar Oil and Gas Enterprise (MOGE), a department within the energy ministry that sends funds to several members of the military, also known as the Tatmadaw, including people who are under personal sanctions from the U.S.
The senators said MOGE collects gas revenue from joint ventures with companies such as Total, Chevron, Posco, PTT and CNP, raking in what the lawmakers estimated to be $1.1 billion each year.
The six senators called for “the joint ventures involving multinational oil and gas companies pay revenue into a trust or protected account which is either held until such time as Burma has a legitimate and democratically-elected government or used for humanitarian purposes.”
Myanmar Update: U S , UK and EU Continue to Expand Sanctions for Companies with Ties to the Military | Pillsbury - Global Trade & Sanctions Law
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April 22, 2021 Share
The United States has imposed sanctions on the Myanmar state-owned Myanma Timber Enterprise and Myanmar Pearl Enterprise to further pressure the military government, which seized power in a February coup.
“The Burmese military derives significant funding from state-owned enterprises in the natural resources market. Today’s action demonstrates the United States’ commitment to targeting this specific funding channel and promoting accountability for those responsible for the coup and ongoing violence,” said Andrea Gacki, director of the U.S. Department of the Treasury’s Office of Foreign Assets Control.
There was no immediate response from the government in Myanmar, also known as Burma..