US Imposes Sanctions on Myanmar Junta’s Lucrative Oil Enterprise

The US announced sanctions against the Myanmar junta’s most lucrative state-owned enterprise, one of Washington’s most significant moves yet to curtail the military regime’s access to easy cashflow to buy weapons.

The curbs by the US on Myanma Oil and Gas Enterprise, or MOGE, prohibits Americans from the provision, exportation, or re-exportation of financial services, directly or indirectly, to or for the benefit of the company. It will come into effect on Dec. 15, the Department of Treasury’s Office of Foreign Assets Control said in a statement.