Conglomerates hit hard

Cheering them on: Residents applauding protesters wearing protective gear during a demonstration against the military coup in Mandalay. — AFP

THE United States has imposed what it calls its most significant sanctions to date over the military coup in Myanmar, restricting American dealings with two giant Myanmar military holding companies that dominate much of that country’s economy.

The sanctions are the latest that the Biden administration and European governments have laid on Myanmar since Feb 1, when the country’s generals seized power on the day a newly elected parliament was due to be sworn in.