US to impose new sanctions on Myanmar’s state bank: sources

Bangkok – United States Plans to impose new restrictions Sources familiar with the matter and Thai news outlets say the move is to cut funding for Myanmar’s military government this week.

Washington is expected to announce new sanctions against the Myanmar Trade Bank and the Myanmar Investment and Commercial Bank as early as Wednesday, according to a Thai report released on Tuesday.

Two people familiar with the matter told Reuters the reports were accurate.

The US embassy in Thailand said in a statement that the US “continues to explore ways to promote accountability for the coup and related violence, including efforts to block government revenues.”

“Our goal with these designations is to limit the regime’s access to the US dollar and promote accountability to a regime that continues to commit horrific acts of violence.”

The United States and other Western countries imposed multiple sanctions About Myanmar military leaders Seize power in a coup in 2021overthrew the democratically elected government led by Aung San Suu Kyi and killed thousands of dissidents in the crackdown.

A spokesman for Myanmar’s military government said it was not worried about the new sanctions.

Zaw Min Tung told state media channel MWD on Tuesday evening that Myanmar had experienced sanctions before and would not face any losses if new sanctions were imposed on Myanmar’s state-owned banks.

He said the United States “is only doing this to create economic and political difficulties.”

“Such things will cause unnecessary delays as we move toward a multi-party democracy.”

One Thai media report by Bangkok Business News said a Thai source said the sanctions would have economic ramifications for Thailand and other countries in the region due to links with local banks. said he would.

The U.S. embassy said it had regular discussions with the Thai government on Myanmar, including “how to mitigate the potential impact of sanctions on Thailand and other countries.”

Thailand’s outgoing military-backed government earlier this week hosted controversial talks aimed at re-engaging with Myanmar’s military, a conflict-torn country even as top diplomats from key Southeast Asian neighbors continue to shun the military government. He said dialogue was necessary to protect borders with countries that .

Critics say meeting in Pattaya was ruined ASEAN unified approach It has responded to the crisis in Myanmar centered on a peace plan agreed with the military government two years ago.

But Thai Prime Minister Prayut Chan-ocha, who seized power in a 2014 coup, said direct dialogue was needed to protect Thailand.Reuters