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Trafficking of banned Myanmar teak lands German company with $4m fine
German firm WOB Timber was ordered by a Hamburg court to pay $4 million in fines for illegally trading Myanmar teak.
Although there is a regulation that prohibits imports of Myanmar wood into the EU, companies take advantage of legal loopholes to evade it, says the Environmental Investigation Agency (EIA).
According to the EIA, demand for Myanmar teakwood contributed to the Southeast Asian country losing a Belgium-size area of forest between 2001 and 2018
WOB Timber, a logging company based in Hamburg, Germany, has been ordered by a court to pay a $4 million fine for illegally trading Myanmar timber. The April 27 decision was one of the highest financial penalties for this type of crime in the European Union. ....

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