{"id":112259,"date":"2021-02-11T04:07:39","date_gmt":"2021-02-11T04:07:39","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112259"},"modified":"2021-02-11T04:07:39","modified_gmt":"2021-02-11T04:07:39","slug":"biden-approves-order-for-sanctions-on-myanmar-generals-businesses","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/biden-approves-order-for-sanctions-on-myanmar-generals-businesses\/","title":{"rendered":"Biden approves order for sanctions on Myanmar generals, businesses"},"content":{"rendered":"

(Reuters) – U.S. President Joe Biden said on Wednesday he had approved an executive order for new sanctions on those responsible for the military coup in Myanmar and he repeated demands for the generals to give up power and free civilian leaders.<\/p>

U.S. President Joe Biden delivers remarks on the political situation in Myanmar at the White House in Washington, U.S., February 10, 2021. REUTERS\/Carlos Barria<\/figcaption>

Biden said the order enabled his administration \u201cto immediately sanction the military leaders who directed the coup, their business interests as well as close family members.\u201d<\/p>\n

Washington would identify the first round of targets this week and was taking steps to prevent the generals in Myanmar, also known as Burma, having access to $1 billion in Myanmar government funds held in the United States.<\/p>\n

\u201cWe\u2019re also going to impose strong exports controls. We\u2019re freezing U.S. assets that benefit the Burmese government, while maintaining our support for health care, civil society groups, and other areas that benefit the people of Burma directly,\u201d Biden said at the White House.<\/p>\n

\u201cWe\u2019ll be ready to impose additional measures, and we\u2019ll continue to work with our international partners to urge other nations to join us in these efforts.\u201d<\/p>\n

The Feb. 1 coup and detention of elected leader Aung San Suu Kyi presents Biden him with his first major international crisis, and a test of his dual pledges to re-center human rights in foreign policy and work more closely with allies.<\/p>\n

\u201cI again call on the Burmese military to immediately release the democratic political leaders and activists,\u201d he said. \u201cThe military must relinquish power it\u2019s seized.\u201d<\/p>\n

Related Coverage<\/p>\n<\/p>\n

U.S. State Department spokesman Ned Price said Washington was rolling out collective actions with partners on Myanmar.\u201dWe can impose substantial costs ourselves. We can impose costs that are even steeper … by working with our like-minded partners and allies,\u201d he told a briefing.<\/p>\n

ASIAN INFLUENCE<\/h2>\n

Western countries have condemned the coup, but analysts say Myanmar\u2019s new junta will not be as isolated as previous iterations, with China, India, Southeast Asian neighbors and Japan unlikely to cut ties given the country\u2019s strategic importance.<\/p>\n

Derek Mitchell, a former U.S. ambassador to Myanmar, said it was vital to get nations such as Japan, India and Singapore involved in a strong response.<\/p>\n

\u201cThe key will not be just what America does,\u201d he said. \u201cIt\u2019s going to be how we get others along with us, allies who may have more skin in the game, more leverage, or at least better relationships with the key players.\u201d<\/p>\n

The United Nations\u2019 top human rights body is to consider a resolution on Friday drafted by Britain and the European Union condemning the coup and demanding urgent access for monitors.<\/p>

Slideshow ( 4 images )<\/span><\/figcaption>

However, diplomats said China and Russia – which both have ties to Myanmar\u2019s armed forces – are expected to raise objections or try to weaken the text. The UN Security Council released a statement last week calling for Suu Kyi\u2019s release but stopping short of condemning the coup.<\/p>\n

FESTIVE PROTESTS<\/h2>\n

Protesters returned to the streets of Myanmar on Wednesday despite the shooting of a young woman the previous day.<\/p>\n

There were no reports of violence on Wednesday, and in many places protests took on a festive air, with bare-chested body builders, women in ball gowns and wedding dresses, farmers on tractors and people with their pets.<\/p>\n

Thousands joined demonstrations in the main city of Yangon, while in the capital, Naypyitaw, hundreds of government workers marched in support of a growing civil disobedience campaign.<\/p>\n

The protests have been the largest in Myanmar in more than a decade, reviving memories of almost half a century of direct army rule, punctuated with bloody army crackdowns, until the military began relinquishing some power in 2011.<\/p>\n

The military justified its takeover saying a Nov. 8 election, which Suu Kyi\u2019s National League for Democracy (NLD) party won by a landslide, was a fraud. The electoral commission dismissed the army\u2019s complaints.<\/p>\n

While Biden did not specify who would be hit with new sanctions, Washington is likely to target coup leader Min Aung Hlaing and other top generals who are already under U.S. sanctions imposed in 2019 over abuses against Rohingya Muslims and other minorities.<\/p>\n

It could also target Myanmar Economic Holdings Limited and Myanmar Economic Corp, military holding companies with investments spanning sectors including banking, gems, copper, telecoms and clothing.<\/p>\n

Biden\u2019s national security adviser, Jake Sullivan, spoke on Wednesday with Senate Republican leader Mitch McConnell, who has a longstanding interest in the country and a close relationship with Suu Kyi, a McConnell aide said.<\/p>\n

Suu Kyi, 75, won the 1991 Nobel Peace Prize for campaigning for democracy and remains hugely popular at home despite damage to her international reputation over the plight of the Rohingyas.<\/p>\n

She has spent nearly 15 years under house arrest and now faces charges of illegally importing six walkie-talkies. Her lawyer says he has not been allowed to see her.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – U.S. President Joe Biden said<\/p>\n","protected":false},"author":3,"featured_media":112258,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nBiden approves order for sanctions on Myanmar generals, businesses - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/biden-approves-order-for-sanctions-on-myanmar-generals-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biden approves order for sanctions on Myanmar generals, businesses - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – U.S. President Joe Biden said\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/biden-approves-order-for-sanctions-on-myanmar-generals-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-11T04:07:39+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/cnewsfotor613.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/biden-approves-order-for-sanctions-on-myanmar-generals-businesses\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/biden-approves-order-for-sanctions-on-myanmar-generals-businesses\/\",\"name\":\"Biden approves order for sanctions on Myanmar generals, businesses - 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