Happy holidays! Here are two must-read articles on sanctions and Burma from the essential Frontier Myanmar. Read them as you sip your egg nog.
“The end of Myanmar’s resource boom could doom the junta”
“The military has since the 1990s relied on three main partners to weather sanctions: Singapore for banking, Thailand for gas exports and China for other commodity exports and infrastructure development. In return, these three countries have benefited from Myanmar’s natural resource exports and investment opportunities. But the political and economic mayhem unleashed by junta chief Senior General Min Aung Hlaing and his acolytes has changed that dynamic. Singapore, Thailand and especially China have all signalled that Myanmar is becoming a liability. This leaves Nay Pyi Taw more isolated and exposed to sanctions than it has been in decades, unable to fund itself, buy support and weapons, or even provide basic government services.”
“New US sanctions on MOGE: Hitting the generals where it hurts?”
“By prohibiting “US persons from the provision, exportation, or re-exportation, directly or indirectly, of financial services to or for the benefit of MOGE or its property or interests in property”, the sanctions aim to “disrupt the regime’s access to the US financial system and curtail its ability to perpetrate atrocities”. Concretely, this means that any entity, regardless of nationality, will be barred from using US financial services to transact with MOGE. This makes it more difficult for the regime to access dollars, because most dollar transfers must go through US banks.”
Let’s make 2024 the last year of the Myanmar military junta.