Exclusive: U.S. blocked Myanmar junta attempt to empty $1 billion New York Fed account -sources

Myanmar's military junta leader, General Min Aung Hlaing, speaks in a media broadcast in Naypyitaw, Myanmar February 8, 2021 in this still image taken from video. MRTV/Reuters TV via REUTERS

WASHINGTON (Reuters) - Myanmar's military rulers attempted to move about $1 billion held at the Federal Reserve Bank of New York days after seizing power on Feb. 1, prompting U.S. officials to put a freeze on the funds, according to three people familiar with the matter, including one U.S. government official.

The transaction on Feb. 4 in the name of the Central Bank of Myanmar was first blocked by Fed safeguards. U.S. government officials then stalled on approving the transfer until an executive order issued by President Joe Biden gave them legal authority to block it indefinitely, the sources said.