The United States is imposing more economic sanctions against businesses and individuals linked to Myanmar, the U.S. Treasury Department said on Monday.
The latest sanctions, the fourth of its kind since last year, target Asia World Co. Ltd., a Myanmar company controlled by Steven Law and his father, Lo Hsing Han, which the Treasury described as "financial operatives" of the Myanmar government.
The sanctions were also extended to Law's wife, Cecelia Ng. In addition, 10 Singapore-based companies owned by Ng, including property firm Golden Aaron Pte Ltd., were also blacklisted.
The United States has long imposed a trade and investment ban on Myanmar. It tightened the sanctions since conflicts between the country's military government and protests in September 2007, leading eight protestors reportedly shot dead and 42 others injured in Yangon.
Bush signed an executive order on Sept. 27 to tighten sanctions, freezing assets of 14 Myanmar's military government officials under U.S. jurisdiction and forbidding U.S. citizens or groups to do financial transactions with them.
The Bush's administration released another round of sanctions on Oct. 19 on Myanmar, including tighter restrictions on the export of dual-use goods and computers to Myanmar, visa bans and asset freezes on 11 of Myanmar's leaders.
The U.S. Senate passed in December an act forbidding the import of gems and timber from Myanmar and imposes fresh financial sanctions and travel restrictions on leaders of the country.
Source: Xinhua
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