Myanmar civil society groups urged the Biden administration to impose sanctions on Myanma Economic Bank, a state-owned institution allegedly used by military junta to bypass existing U.S. restrictions, including proceeds from natural gas exports, which fund the junta’s operations. The International Campaign for the Rohingya emphasized that targeting the bank could disrupt the military’s international support networks.
Since the military coup in 2021, which led to a bloody crackdown and displaced over 3.1 million people, the U.S. has freezed $1 billion in junta assets and targeting two other state-owned banks, which reportedly forced the regime to rely more heavily on Myanma Economic Bank. Advocates are pressing for swift action before President Biden leaves office, calling on the administration to impose additional measures to curtail the junta’s financial lifelines. Meanwhile, international allies, including Britain, the EU, and Canada, have tightened sanctions against Myanmar's military, focusing on aviation fuel suppliers and arms-related entities.
