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More US sanctions on Myanmar military regime

Written by: Staff

Washington, May 2: The United States has imposed additional sanctions against Myanmar's military regime, freezing the American assets of that country's state-owned companies. President Bush who made the announcement yesterday said,'' today, I've issued a new executive order that instructs the Treasury Department to freeze the assets of Myanmar's state-owned companies that are major sources of funds that prop up the Junta.

He was expanding sanctions already in place, and will now freeze the American assets of state-owned companies of the country. The United States has already frozen the assets of more than 30 select individuals and companies with links to the military government in Rangoon. They include Steven Law and his father Lo Hsing Han, described by the US Treasury Department as key financial operatives for the Burmese regime.

Bush said US Treasury officials were being given the authority to add any person or entity responsible for supporting, empowering, and enriching the regime including state-owned enterprises.

''I'm sending yet another clear message that we expect there to be change, that we expect these generals to honor the will of the people,'' he added.


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