All rights reserved. Myanmarâs military continues to attempt to acquire European-made equipment in apparent violation of European Union sanctions and embargoes, according to a new report. A source claimed the husband did not have violent tendencies a few days before the incident. He added that the key lies in American allies, which is a difficult path, as some of them have a lot of investments in Myanmar, reported BBC. Myanmar is currently subject to trade restrictions on certain delicate items intended for military use. Myanmar US tightens trade sanctions on Myanmar generals Washington steps up action against the junta after the bloodiest crackdown since the Feb. 1 coup ... the Ministry of Defense and Home Affairs along with two corporations closely associated with the military â Myanmar Economic Corporation and Myanmar Economic Holding Limited. ... Myanmar Economic Holdings Limited (MEHL) and Myanmar Economic Corporation. We think these sanctions should begin with powerful military conglomerates Myanmar Economic Corporation and Myanmar Economic Holdings Public Company Limited, as well as Senior General Min Aung Hlaing and other senior military officials. Specifically, it cites nearly $3 million provided by military-connected businesses to reinforce a border fence along Bangladesh the UN believes was meant to prevent the Rohingya from returning home. His injured fiancée is still in critical condition in the ICU. U.S. President Joe Biden called for the coup to be reversed, and the release of civilian leaders including Myanmar's political icon, Aung San Suu Kyi. There are two major military controlled conglomerates in Myanmar: Myanmar Economic Holdings Public Company Limited (MEHL) and Myanmar Economic Corporation (MEC). Owned by senior officials including Min Aung Hlaing, the two firms together run more than 120 businesses involved in everything from pharmaceuticals, manufacturing, insurance, tourism and banking, the report said. Police run towards protesters to disperse a demonstration being held against the military coup in Yangon on March 3, 2021. Before it's here, it's on the Bloomberg Terminal. The report warned foreign firms who work with businesses from the military, known as Tatmadaw, that they could find themselves as complicit in international human rights violations. WASHINGTON - The United States on Thursday imposed sanctions on Myanmar's acting president and several other military officers and warned there could be more economic punishment as Washington responds to the military coup. The sanctions need to be very carefully crafted to go after money, weapons, prestige - all the things, the military values," Mitchell said. About Reminding that the Tatmadaw is no stranger to sanctions, and having ran Myanmar under crippling embargoes and sanctions for decades, the military "will be prepared to do so again", Myanmar-based political analyst Richard Horsey told The Japan Times. Last Thursday, the United States Treasury announced a list of sanctions targeting 10 individuals and three companies in light of the military takeover in Myanmar. The United Nations fact-finding mission in Myanmar has called for sanctions against a network of companies owned by the countryâs military, saying they ⦠Justice for Myanmar claims the general has ultimate authority over Myanmarâs two military conglomerates â Myanmar Economic Corporation (MEC) and. Authorised and regulated by the Solicitors Regulation Authority. Reports of police firing into air at Yangon protest as generals who led the February 1 coup face more sanctions from UK. A Myanmar government spokesman didn’t respond to requests to comment. The US government has indicated that the February 11 sanctions are preliminary, implying that further sanctions may be forthcoming. “All companies doing business in or buying goods from Myanmar should conduct heightened due diligence to ensure they are not benefiting the Tatmadaw.”, Says foreign firms risk becoming complicit in war crimes, Identifies nearly 150 military-owned companies in Myanmar. Have a confidential tip for our reporters? | Myanmar's soldiers march in a formation during a parade to mark the country's 74th Armed Forces Day. Imposed trade sanctions. The military must understand this.". WASHINGTON, Feb 11 (Reuters) - The United States on Thursday imposed sanctions on Myanmar's acting president and several other military officers and warned there could be more economic ⦠He said: "We have to demonstrate that there is a cost, that if you want balance in your relationships, you're not going to get it this way. “These foreign companies risk contributing to, or being linked to, violations of international human rights and humanitarian law,” according to a media statement released with the report. Myanmar Economic ⦠The donations were provided to a government development organization chaired by State Counselor Aung San Suu Kyi. She urged international companies to break all partnerships with the regime, and added that Singapore, the largest foreign investor in Myanmar, was key to this. The Commerce Department is imposing trade sanctions on Myanmar's Ministry of Defense and Home Affairs as well as two corporations connected to the military. âFor far too long, the Tatmadaw has enjoyed impunity for its abuses against the people of Myanmar. At least 15 foreign firms currently have joint ventures with the Tatmadaw, while 44 others have some form of commercial ties with their businesses, the report found. The United States on Thursday tightened export controls on Myanmar, imposing new sanctions in response to the militaryâs violence against pro-democracy demonstrators. Myanmar poll results invalidated as shots fired in Yangon. The company, a subsidiary of MEHL, has partnerships with countries including China, Japan, Singapore, South Korea, reported The Japan Times. Julia Yeo The U.S. has already imposed sanctions on Myanmarâs top military leaders since the coup, but stepped up pressure after Wednesdayâs killing. Stocks Slump as Treasury Yields Top 1.5% on Powell: Markets Wrap, Nintendo Plans Switch Model With Bigger Samsung OLED Display, Texas Watchdog Says Grid Operator Made $16 Billion Error, Bitcoin Could Reach $1 Million or More, Kraken CEO Says, Futures Erase Losses Before Payrolls; Oil Gains: Markets Wrap. Myanmar is also now subject to trade restrictions on certain sensitive items intended for military use. Despite the targeted sanctions by the U.S., observers said that the military chiefs still have access to enormous wealth lying within their conglomerates, reported The Japan Times. As one of the largest ongoing humanitarian crises, the UN has likened the Rohingya plight to a genocide. While businesses are taking the time to re-evaluate their partnerships with the military-controlled corporations, only a few foreign companies have announced they are reconsidering their operations in the Myanmar, including Singapore-based oil company Puma. Myanmar Imperial Jade Co. Ltd, one of the three businesses sanctioned by the U.S., reportedly holds the largest number of jade mining licenses in the country. The diversity of the companies range from tobacco, textiles, beer, to tourism and banking. However, a significant portion of the military's wealth come from the jade and ruby trade, which are businesses mainly owned by the junta. If you like what you read, follow us on Facebook, Instagram, Twitter and Telegram to get the latest updates. The 111-page report released on Monday details what it said was illicit behavior by the military’s vast businesses, including two of its largest and most secretive enterprises -- Myanmar Economic Holdings Limited and Myanmar Economic Corporation. However, despite activists' calls for swift retaliatory measures against the military leaders, analysts cautioned against being hasty to throttle the businesses, which could plunge the country's economy. The Commerce Department is imposing export controls on Myanmarâs Ministry of Defense and Home Affairs as well as two corporations closely associated with the military â Myanmar Economic Corporation and Myanmar Economic Holding Limited. One option would be to impose economic sanctions on the two largest military conglomerates: The Union of Myanmar Economic Holdings Ltd. and Myanmar Economic Corp. The Union of Myanmar Economic Holdings Limited (abbreviated UMEHL or UMEH) was established in February 1990 under the Special Companies Act as the economic arm of the Burmese military, during a period of privatisation and transition from a socialist command ⦠According to a report by Justice For Myanmar, the military controls two conglomerates -- the Myanmar Economic Holdings Limited (MEHL) and the Myanmar Economic Corporation (MEC) -- which in turn hold at least 133 companies that are completely or partially overseen by military leaders. Advertise with us Myanmar Economic Holdings and Myanmar Economic Corporation are sprawling holding companies with investments spanning various sectors including banking, gems, ⦠US officials reclassified Myanmar into the same group as Russia and China, implementing restrictions on any exports that could be put to military use. According to the report, 45 local companies and organizations additionally donated over $10 million to the military in the weeks following the start of the atrocities in Rakhine State. Military-linked enterprises bear brunt, but other businesses risk public wrath. February 15, 2021, 10:59 PM, West Lawn (next to Bayfront Plaza), Gardens by the Bay, Follow us on Telegram for the latest updates: https://t.me/mothershipsg. The new regulations will specifically impact exports to Myanmarâs [â¦] U.S. imposes targeted sanctions on Myanmar military elites. Through these umbrella companies, the military is involved in a whole range of economic sectors, including gems, tourism, transport, banking, and real estate. The Ahlone International Port Terminal 2 (AIPT 2) will be developed over 54 acres of land leased from the Myanmar Economic Corporation Co Ltd (MEC), which is currently operating AIPT 1. | These sanctions must also include the powerful military conglomerates Myanmar Economic Corporation and Myanmar Economic Holdings Public Company Limited. Follow the money: Myanmar coup puts pressure on army businesses. Looks relatively manageable, even for beginners. | "We don't want to go back to the old-style sanctions. Derek Mitchell, who served as the U.S. ambassador to Myanmar from 2012 to 2016 -- the first to hold the position since the country's political opening -- said the U.S. doesn't have much leverage over the situation either. Copyright © 2020 Mothership. We Are Hiring The sanctions are not comprehensive countrywide sanctions nor do they appear to be the same old sanctions programme imposed on Myanmar in the past, which had severely crippled the Myanmar economy, impacting the civilian population greatly. The report also lists state-owned arms dealers from seven nations including China, Russia and North Korea that supplied the military with weapons used to carry out extensive human rights violations, including the forced deportation of Rohingya. We also take a look at other major events that changed our nation. All imported cases reported today are asymptomatic. They will also be denied the use of U.S. goods, software, and technology, including non-U.S. goods containing significant amount of American content, reported Nikkei. STR | AFP | Getty Images The United States imposed trade sanctions against the military regime in Myanmar on Thursday, a day after security forces killed dozens of people in the deadliest day of violence [â¦] The sanctions put in place by the U.S. specifically target military leaders who directed the coup, their business interests and close family members, as well as officials connected with the military (Tatmadaw), according to Nikkei. Calls are growing for sanctions on the militaryâs vast business empire after the February 1 coup. Debbie Stothard, an activist from the International Federation of Human Rights (FIDH), pushed for more penalties by international leaders to cut off the military leaders' access to their wealth, reported The Japan Times. He opined that the Tatmadaw fears the country's overdependence on a large country like China, adding that sufficient pressure might be able to coerce them into changing their actions. Photographer: Thet Aung/AFP via Getty Images. Basically us after binging on pineapple tarts and bak kwa over the weekend. “We’re now able to establish that the Tatmadaw generate funds from the private sector and explicitly its commander-in-chief, who referred to the fact they are using them to push out the Rohingya from the country,” Marzuki Darusman, chairman of the UN’s fact-finding mission on Myanmar, said by phone Sunday evening. Clyde & Co LLP is a limited liability partnership registered in England and Wales. US sanctions on Myanmar: 5 things to know. ... the Myanmar Economic Holdings Limited (MEHL) and the Myanmar Economic Corporation (MEC) -- ⦠Privacy policy. "The significant involvement of Tatmadaw companies in the jade and ruby industries means that there is a high risk that revenue from the sale of jade and rubies benefits the Tatmadaw," said the report. Targeting individuals such as General Min Aung Hlaing and the current acting president Myint Swe, the sanctions have also been imposed on corporations that are deemed as entities owned or controlled by the military. The value of the Myanmar jade trade is estimated to be as high as US$31 billion (S$41 billion) -- nearly half of Myanmar's official GDP of US$69 billion (S$91 billion). Police run towards protesters to disperse a demonstration being held against the military coup in Yangon on March 3, 2021. "The BIS has added the Burmese Ministries of Defence and Home Affairs, the Myanmar Economic Corporation, and the Myanmar Economic Holding Limited to the Entity List. | | The Commerce Department is imposing export controls on the Myanmar Ministry of Defense and Home Affairs, as well as two corporations closely associated with the military: Myanmar Economic Corporation and Myanmar Economic Holding Limited. Contact us Last month, the U.S. State Department sanctioned four Myanmar military officials including Min Aung Hlaing for “gross human rights violations” against Rohingya Muslims, accusing them of being behind ethnic cleansing. According to a 2019 report by the United Nations Human Rights Council (OHCHR), around 90 per cent of all jade bought and sold in the world in any given year originates from Myanmar. “One could make a conclusion on the degree of complicity of the state counselor,” said Darusman. Myanmar's military still holds a great deal of wealth from the many businesses they own within the country. Already the US had imposed sanctions on the leaders of Myanmar's February 1 military coup. The United Nations fact-finding mission in Myanmar has called for sanctions against a network of companies owned by the country’s military, saying they helped carrying out and finance nationwide human rights violations, including against Rohingya Muslims. Yes, learning history can actually be fun and stimulating. But in pursuing the course of sanctions, political analysts such as Richard Horsey cautioned that countries need to tread carefully in its disapproval to avoid punishing the civilian population for their leaders' acts. The Department of Commerce imposes export restrictions on the Department of Defense of Myanmar and two companies closely associated with the military, the Myanmar Economic Corporation and Myanmar Economic Holding Limited. The two conglomerates identified - Myanmar Economic Corporation and Myanmar Economic Holdings Limited - are among those used by the military to control vast swathes of Myanmar⦠STR | AFP | Getty Images The United States imposed trade sanctions against the military regime in Myanmar on Thursday, a day after security forces killed dozens of people in the deadliest day of violence [â¦] Stothard claimed that "some top Burmese officials have had a lot of personal investments and bank accounts in Singapore since the mid-2000s", and mentioned that the trend has accelerated in recent years, according to The Japan Times. Myanmar is also now subject to trade restrictions on certain sensitive items intended for military use. Many other countries have broader sanctions authorities under economic emergency laws or other regimes, that would allow imposition of targeted sanctions against the leaders of the Myanmar ⦠United Nations Human Rights Council (OHCHR). ... (MEHL) and Myanma Economic Corporation (MEC). Proceeds from the illicit activities raised millions of dollars in one of the world’s poorest countries, the report said, and helped fund atrocities that forced more than 700,000 Rohingya to flee across Myanmar’s border into Bangladesh following military attacks on Muslim villages in Rakhine state in 2017. Under the sanctions, all U.S.-located or U.S.-held property belonging to these individuals and corporations will be frozen. But the UN mission went a step further, calling for the criminal investigation of executives from companies with known links to the military for their role in financing the development projects its says furthered the military’s “objective of re-engineering the region in a way that erases evidence of Rohingya belonging to Myanmar.”. Run by senior officials including Army Commander-in-Chief Senior General Min Aung Hlaing and several other ranking officials, the two firms hold a substantial stake in the country’s lucrative jade trade and according to the report, “used mining areas as staging grounds for abductions, forced labor, sexual violence and murder.” It did so to try to squeeze out additional revenue from an industry that estimates says brings in as much as $31 billion a year -- nearly half the country’s GDP. Possible further sanctions .