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Sanctions for banks, businesses linked to Myanmar junta

Southeast Asian leaders have descended on Melbourne for high-level talks, as Australia unveiled more than $260 million in development and maritime funding.

Southeast Asian leaders have descended on Melbourne for high-level talks, as Australia unveiled more than $260 million in development and maritime funding. Photo: Getty

The Australian government has slapped additional sanctions on companies with links to Myanmar’s military junta on the third anniversary of the coup.

The sanctions are set to limit the regime’s access to funds it can use to commit atrocities against civilians, Foreign Minister Penny Wong says.

Myanma Foreign Trade Bank and Myanma Investment and Commercial Bank have been hit with targeted financial sanctions for enabling the regime’s activities.

Three companies that supply jet fuel to the military – Asia Sun Group, Asia Sun Trading and Cargo Link Petroleum Logistics – have also been targeted.

“These sanctions are a response to the regime’s ongoing repression of the people of Myanmar, escalating violence, and the continuing deterioration of the political, humanitarian and security situation,” Senator Wong said in a statement.

“They send a clear message of Australia’s deep concern for the regime’s ongoing actions and its continued disregard for international efforts.

“Australia will continue to closely monitor the regime’s actions and look for improvements on the ground.”

– AAP

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