US sanctions Myanmar Defence Ministry; two state-owned banks also get same treatment

The new restrictions block all US-related transactions with the ministry and two banks.

The new restrictions, announced by the Treasury Department’s Office of Foreign Assets Control on Wednesday, block all US-related transactions with the ministry, as well as with Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank.

In a statement, Treasury said Myanmar has relied on foreign sources, including from Russia"to purchase and import arms, dual-use goods, equipment, and raw materials to manufacture weapons.”

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