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

YANGON/WASHINGTON, June 24 (Bloomberg): The US imposed fresh sanctions on Myanmar’s defense ministry and two state-owned banks that it said facilitate transactions between the junta and overseas markets, including for weapons and military equipment from Russia.

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.