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Reuters exclusively reports EU agrees to sanction two companies close to Myanmar military

Business & Finance

Reuters exclusively reported that the European Union is preparing to widen its sanctions on Myanmar’s armed forces to target businesses they run, in protest to the Feb. 1 military coup. The measures would target companies “generating revenue for providing financial support to Myanmar Armed Forces.” The bloc has an arms embargo on Myanmar, and has targeted some senior military officials since 2018, but the measures would be its most significant response so far since the coup. EU diplomats told Reuters that parts of the military’s conglomerates, were likely to be targeted, barring EU investors and banks from doing business with them.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Economy & Policy

Regions: AsiaEurope

Countries: Myanmar

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story

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