US Treasury sanction timber, pearl enterprises in Burma

ANKARA

The US imposed sanctions on two state-owned enterprises in Myanmar that are responsible for timber and pearl exports, the Treasury Department announced on Wednesday.

Sanctions against the Myanmar Timber Enterprise (MTE) and Myanmar Pearl Enterprise (MPE) are not directed at the people of Myanmar, it said, adding that the timber and pearl industries are key economic resources for the military regime that is repressing pro-democracy protests in the country, which is responsible for ongoing violent and lethal attacks against citizens.

MTE is responsible for the production and export of timber on behalf of the Burmese military regime, MPE is responsible for oyster fishing, harvesting and selling pearls.

“The Burmese military derives significant funding from state-owned enterprises in the natural resources market. Today’s action demonstrates the United States’ commitment to targeting this specific funding channel and promoting accountability for those responsible for the coup and ongoing violence," said Andrea Gacki from the Treasury’s Office of Foreign Assets Control (OFAC), who used the American government’s preferred name of Burma.

Secretary of State Antony Blinken said in a separate statement that the US will continue to target specific funding channels and promote accountability for the coup and related violence.

"The Burmese military regime continues to ignore the will of the people of Burma to restore the country’s path to democracy. Instead of acceding to the clear aspirations of its citizens, the regime has intensified its violent crackdown, killing more than 650 people, including many children, and detaining more than 3,200 others since February 1," he said.