Yangon, May (27)
The West, including the United States, imposed sanctions on the military council and its associates, but they have not been effective until today, said the bloody money campaign group and democracy activists.
The US and its allies imposed sanctions on Myanmar after the military, led by General Min Aung Hlaing, have ousted the democratic government and seized control over alleged claims of voter fraud in the 2020 election.
The western countries have sanctioned more than 80 people, including military commanders and their allies, and 30 military-related enterprises at least ten times in the two years following the February 2021 coup.
An official of the bloody money campaign group told Than Lwin Times that the sanctions were not effective because the money from the sanctioned businesses was not flowing to the military council in droves, but in other ways.
According to the statements of the Bloody Money Campaign, despite international sanctions imposed on Myanmar Oil and Natural Gas Enterprise (MOGE), gems, and Myanmar timber industries, which provide the military council with foreign income, the transactions are still going on till now.
Jade and gems are a major source of revenue for the military council and their militia groups, which in turn help fund the junta’s brutal crimes in ethnic areas, warned the research group, Justice for Myanmar.