![]() Zaw Min Tun told the state media channel MWD on Tuesday the country has experienced sanctions before and they will not face losses if there are new ones on Myanmar state-owned banks. ![]() The United States and other Western nations have imposed several rounds of sanctions on Myanmar's military leaders since they seized power in a coup in 2021, overthrowing the democratically elected government led by Aung San Suu Kyi and killing thousands of opponents in a crackdown.Ī spokesman for Myanmar's military junta ahead of the announcement said it was not worried about any new sanctions. "Burma’s military regime has leveraged state-run access to international markets to import weapons and materiel, including from sanctioned Russian entities, to continue its violence and oppression," the Treasury's Under Secretary for Terrorism and Financial Intelligence, Brian Nelson, said in the statement. The banks receive and transmit foreign currencies for Myanmar's government. The Treasury said they allowed revenue-generating state-owned enterprises, including Myanma Oil and Gas Enterprise (MOGE), access to international markets. State-owned Myanmar Foreign Trade Bank (MFTB) and Myanma Investment and Commercial Bank (MICB), were also hit with sanctions. Myanmar Military Has No Plan to End Conflict, Experts Say
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