The Biden administration in the United States has announced that it will impose sanctions on a state-owned energy company for being the largest source of foreign currency for the military in power in Myanmar.
The U.S. Treasury Department announced on the 31st that it will impose sanctions on state-owned companies that handle oil and natural gas in Myanmar because they have become the largest source of foreign currency for the military in power since the coup d'état.
It prohibits U.S. citizens from providing financial services such as investments and loans to this state-owned company.
The announcement points out that the Myanmar military annually earns hundreds of millions of dollars in foreign currency from the state-owned company, buys weapons from abroad and commits atrocities against civilians.
The US Treasury Department also announced that it will sanction three groups and five officials in cooperation with the United Kingdom and Canada for purchasing weapons from Russia and other countries and providing them to the military.
Regarding this sanctions, Secretary of State Blinken said in a statement, "Sanctions are to hold the military regime accountable for the atrocities, and we call on all countries to take concrete measures to prevent the military regime from obtaining weapons, aircraft fuel, and revenue."