The United States has imposed sanctions on two banks run by Myanmar’s Ministry of Defense and the military junta.
The US Treasury Department said in a statement that Myanmar’s military is dependent on foreign sources.
The statement said that the Myanmar army imports from Russia raw materials for the purchase and import of weapons, military equipment and weapons, etc., which are used for ‘oppression and oppression’.
Washington has alleged that Myanmar’s defense ministry has imported $1 billion worth of weapons and other equipment since a government coup in 2021.
State-owned Myanmar Foreign Trade Bank and Myanmar Investment Commercial Bank have also been banned.
The U.S. Treasury Department said these banks provided international access to revenue-generating state-owned companies. These banks receive and remit foreign currency for the Myanmar government.
On the other hand, Myanmar’s military spokesman Zo Min Tin said he was not worried about the new restrictions.
He said that the country has already suffered a lot of restrictions and now there will be no harm if more new restrictions are imposed.
He said that America is doing this only to create problems for our economy and politics.
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