(MENAFN- Caribbean News Global)
By Caribbean News Global
WASHINGTON, USA – On Monday, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned two individuals connected to the military apparatus responsible for the coup in Burma, in response to the Burmese security forces' killing of peaceful protestors.
'The US Treasury said it imposed the sanctions under Executive Order 14014, the new Burma-focused sanctions authority president Biden issued on February 11,' added. 'The Treasury Department stands with the people of Burma as they work to secure freedom and democracy and remains committed to promoting accountability for those responsible for the coup and ongoing violence. The military must reverse its actions and urgently restore the democratically elected government in Burma, or the Treasury Department will not hesitate to take further action.'
The US Department of the Treasury, Office of Public Affairs press release continued:
'The United States will continue to work with partners throughout the region and the world to press the Burmese military and police to cease all violence against peaceful protestors, to support the restoration of democracy and the rule of law in Burma, to urge for the immediate release of political prisoners, including State Counselor Aung San Suu Kyi and president Win Myint, and to promote accountability for those responsible for attempting to reverse Burma's progress toward democracy.
'The action builds upon the February 11, 2021, Treasury sanctions that targeted ten current or former military officials as well as three Burmese entities, which are wholly owned subsidiaries of a large conglomerate in Burma. Following the February 1 coup, on February 2, the Burmese military announced that Lieutenant General Moe Myint Tun and General Maung Maung Kyaw would be members of the State Administration Council.
'Moe Myint Tun and Maung Maung Kyaw are designated pursuant to E.O. 14014, 'Blocking Property With Respect to the Situation in Burma,' for being foreign persons who are or were leaders or officials of the military or security forces of Burma.'
The implication of the sanctions means: 'All property and interests in property of the individuals named above, and of any entities that are owned, directly or indirectly, 50 percent or more by them, individually, or with other blocked persons, that are in the United States or in the possession or control of US persons, are blocked and must be reported to OFAC. Unless authorized by a general or specific license issued by OFAC or otherwise exempt, OFAC's regulations generally prohibit all transactions by US persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons.'
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