The United States has taken its first direct action against the primary source of foreign earnings supporting Myanmar's ruling military junta. Sanctions have been imposed on Myanma Oil and Gas Enterprise (MOGE), a significant national entity instrumental in generating revenues for the current regime. This move underscores the US's commitment to crippling junta's recruitment funds and applying economic pressure to combat human rights abuses.
1. The United States has imposed sanctions on Myanma Oil and Gas Enterprise (MOGE), striking a significant blow to Myanmar's ruling military junta's financial resources.
2. This represents the first direct action by the U.S. against the main source of the military junta's foreign income.
3. MOGE has been instrumental in generating revenue for the military regime that currently governs Myanmar.
4. These sanctions are expected to substantially impact the junta's economic strength, crippling its recruitment funding.
5. This move not only manifests the U.S.'s commitment to weaken the junta's financial base but it also signifies a stern stance against human rights violations and the suppression of democracy in Myanmar.
As of 2021, oil and gas exports from MOGE make up approximately 45% of Myanmar's annual revenue, earning the military junta about $1.5 billion yearly.
The US administration has taken significant measures to cripple the military junta's financial resources in Myanmar. Specifically targeting the Myanma Oil and Gas Enterprise (MOGE), the US has aimed its first direct action towards toppling the financial backbone of the military regime. MOGE is considered the junta's primary source of foreign revenue, therefore these sanctions will substantially impact the regime's economic strength. The move represents the US government's stern stance against the human rights abuses and suppression of democracy currently taking place in Myanmar.