Adani Ports To Abandon Myanmar Container Terminal Project If Found Violating US Sanctions On Military Regime
Adani s Mundra Port in India (@WesternRly/Twitter)
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday (4 May) clarified that it could abandon the container terminal project in Myanmar and write down the investment if it is found to be violating sanctions imposed by the United States. In a scenario wherein Myanmar is classified as a sanctioned country under the Office of Foreign Assets Control (OFAC), or if OFAC opines that the project violates the current sanctions, APSEZ plans to abandon the project and write down the investments, the company said in a filing to exchanges, reports
Ports firm had won a terminal project
Adani Ports and Special Economic Zone Ltd. said on Tuesday it could abandon a Myanmar container terminal project and write down the investment if it is found to be in violation of sanctions imposed by the U.S.
“In a scenario wherein Myanmar is classified as a sanctioned country under the Office of Foreign Assets Control (OFAC), or if OFAC opines that the project violates the current sanctions,(Adani Ports) plans to abandon the project and write down the investments,” the company said in a filing to exchanges on Tuesday.
OFAC, part of the U.S. Treasury Department, administers and enforces economic and trade sanctions based on the country’s foreign policy. A military coup in Myanmar on February 1 and an ensuing crackdown on mass protests has drawn sanctions on military-controlled entities.
Adani Ports and Special Economic Zone Ltd said on Tuesday it could abandon a Myanmar container terminal project and write down the investment if it is found to be in violation of sanctions imposed by the United States. In a scenario wherein Myanmar is classified as a sanctioned country under the Office of Foreign Assets Control (OFAC), or if OFAC opines that the project violates the current sanctions, (Adani Ports) plans to abandon the project and write down the investments, the company said in a filing to exchanges on Tuesday. OFAC, part of the U.S. Treasury Department, administers and enforces economic and trade sanctions based on the country s foreign policy.
4 mayo, 2021
Six months before the general elections in Nicaragua, The Economist Analysis Unit (EIU) predicts that the regime of Daniel Ortega and Rosario Murillo will win the November 7 elections. This despite public support for its party, the Sandinista National Liberation Front (FSLN), being at “an all-time low.” It’s a given that his control over all State institutions allows him to “manipulate” the rules of the electoral contest in his favor.
With a reform to the Electoral Law in which independent electoral observation is eliminated, potential opposition candidates are inhibited, electoral campaigning is left in the hands of the Police and the Supreme Electoral Council (CSE) stacked with Sandinista magistrates; the FSLN will go to the polls “with the rules of the game manipulated against the opposition,” says the EIU. So, it will not only hold on to the presidency, but it is likely to maintain “a qualified majority” in the National Assembly.