Global Sanctions Dashboard: April
In the previous edition of the Global Sanctions Dashboard, the GeoEconomics Center examined how China retaliated in response to Western measures over the Uyghur genocide and the international response to the military coup in Myanmar, where pressure continues to mount. This month we’re turning back to Russia not with a focus on how the West sanctions Russia, but how Russia views sanctions there’s a big difference. The Dashboard will unpack how for many, sanctions are law enforcement, not foreign policy, and how the multilateralism of UN sanctions is hard fought but worth it. We’ll also tip our hat to the UK’s deployment of Magnitsky sanctions and its new anti-corruption authority.
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Since
Myanmar’s military seized power in a coup just over three months ago, more than
765 people have been killed by state security forces and over 4,700 people have been arrested,
including the country’s democratically elected leaders.
Hundreds have been shot in the
streets, others taken from their homes in nighttime raids, many turning up dead with bruised and broken bodies. More than 50 children have
been killed, the youngest just
six years old shot in
her home. There are also disturbing reports of torture and sexual abuse by
state forces.
The internet has been blocked,
leaving most people without access to information at a time when they need it
Calls Grow to Cut Myanmar Junta’s External Financial Lifelines
Calls Grow to Cut Myanmar Junta’s External Financial Lifelines
Myanmar soldiers are seen during the Armed Forces Day commemoration in Naypyitaw, the capital of the country, on March 27.
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By The Irrawaddy 5 May 2021
Tougher action is urgently needed to cut off foreign currency flows to the Myanmar military regime, suggested local and foreign financial experts, who argued that severing its financial lifeline would hasten the collapse of military rule.
“The largest inflows of foreign currency to the military are from the oil and gas and mining sectors. We need to totally shut off the flow of foreign currency that is keeping the junta alive,” a local economist who asked not to be named told The Irrawaddy.
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The Biden administration continues to utilize United States trade sanctions and export controls as a key tool in its efforts to put pressure on China, Myanmar/Burma and Russia. Since our last update, actions by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), the U.S. Commerce Department’s Bureau of Industry and Security (BIS), the U.S. State Department (State) and the U.S. State Department’s Directorate of Defense Trade Controls (DDTC) have been bolstered by similar actions taken by U.S. allies, indicating multilateral support for the Biden administration’s efforts to combat ongoing human rights crises and national security concerns in these regions.