Experts say the EU's new sanctions against Myanmar raise questions over a contradiction in policy, which calls on ASEAN to take the lead in mediation. There is also concern over how effective the sanctions will be.
Chevron's recently assembled activist Board of Directors is moving the oil giant to suspend payments from a gas joint venture involving an offshore gas pipeline in the Yadana fields in southwest Myanmar that would have reached Myanmar's military junta. French energy major Total has joined Chevron in shutting down the money flows to the junta.
French energy giant TotalEnergies has said it has done everything within its power for now to limit revenues going to the military junta in Myanmar while
TotalEnergies says limited by legal framework on Myanmar action
05/28/2021 | 08:42am EDT
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PARIS (Reuters) -Energy giant TotalEnergies said on Friday it had gone as far as it could for now to limit the revenues going to the military junta in Myanmar while staying within a legal framework and assuring power supplies.
Total and U.S. energy company Chevron earlier this week said they were suspending some payments from a gas joint venture that would have reached the junta, earning praise from pro-democracy activists for taking an important first step.
International companies doing business in the country have come under pressure from rights groups and Myanmar s parallel civilian government to review their operations to stop payments flowing to a military government that seized power on Feb. 1.