The EU is Also Punishing Myanmar Companies That Earn Money for the Army

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The European Union is punishing two conglomerates of companies with which the Myanmar army makes money.

 

“We are increasing the pressure to get the military to the negotiating table,” said German Foreign Minister Heiko Maas.

The EU has already imposed punitive measures on the junta leader and nine other military leadership members. It put an end to the fledgeling democracy in the Southeast Asian country at the beginning of February. This sanction list is again expanded to include several people.

The army continues its violence against protesters and is taking Myanmar further and further towards the abyss, Maas said after discussions with his EU colleagues. He expects the sanctions to take effect “in the coming days”.

The Myanmar army has a large part of the economy in its grip via both conglomerates. The US already imposed sanctions on the two large corporate networks last month.

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