Under the sanctions, two banks that enable the regime’s activities, Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank, will be subject to targeted financial sanctions….reports Asian Lite News
Australia on Thursday imposed additional targeted sanctions on five entities with direct links to the Myanmar military regime.
The sanctions are designed to limit the regime’s access to the funds and materials that enable it to continue to commit atrocities against its own people, as per a release issued by Australia’s Minister of Foreign Affairs Penny Wong.
Under the sanctions, two banks that enable the regime’s activities, Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank, will be subject to targeted financial sanctions.
Three entities that supply jet fuel to the Myanmar military, Asia Sun Group, Asia Sun Trading Co Ltd, and Cargo Link Petroleum Logistics Co Ltd, will also be subject to targeted financial sanctions.
Wong said the sanctions are a response to the regime’s ongoing repression of the people of Myanmar, escalating violence, and the continuing deterioration of the political, humanitarian and security situation.
“They send a clear message of Australia’s deep concern for the regime’s ongoing actions, and its continued disregard for international efforts, particularly those of ASEAN, to seek a resolution to the crisis,” the Australian Foreign Minister said.
Australia said it will continue to closely monitor the regime’s actions and look for improvements on the ground. “We will continue to use every lever at our disposal to press the regime for the cessation of violence, the release of those unjustly detained, unimpeded humanitarian access, and a return to the path of democracy,” the Australian Foreign Minister said in the official release.
“In this context, we will continue to keep our targeted sanctions towards Myanmar under review.”
“We maintain our strong support for ASEAN’s efforts to resolve the crisis in Myanmar, including the constructive efforts of the ASEAN Chairs and Special Envoys. We call on the military regime to implement the Five-Point Consensus and engage meaningfully and positively with ASEAN representatives.”
Australia said it remains resolute in its support for the people of Myanmar. “They have demonstrated their courage and commitment to democracy, with determined resilience, in the face of unspeakable atrocities. We will continue to ensure our humanitarian and development assistance reaches the most vulnerable,” Wong said.
The US also imposed sanctions on Myanmar’s military regime on Wednesday, three years after the military coup.
The country has designated four individuals and two entities linked to Myanmar’s military regime.
“We are taking this action to target the regime’s sources of revenue which support military activities against civilians. The action also targets those who provide material and support for the production of arms in Burma (Myanmar),” said US State Department spokesperson Matthew Miller.
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