MYANMAR – The United States warned that they have started to take action on the terrorist junta council’s Myanma Foreign Trade Bank (MFTB) and Myanma Investment and Commercial Bank (MICB) on August 5.
MFTB and MICB were blacklisted on June 21, 2023, for using foreign currency to purchase weapons and aircraft fuel for the terrorist junta regime.
Mr. Matthew Miller, the spokesperson for the U.S. Department of State, said, “The U.S. working for a peaceful, just, and inclusive democratic future for Myanmar won’t allow the support of Myanmar people to waver. We have imposed sanctions to restrict the junta council’s attempts to take advantage of the international finance system.”
The two sanctioned banks are said to have been warning profits for the junta council from oil, natural gases, teak, gems, and other natural resources.
Hence, the U.S. has permitted MFTB and MICB to operate until June 2023 and sanctioned them starting August 5.