The United States is planning to impose sanctions on two conglomerates controlled by Myanmar's military over the generals Feb.
1 coup and a deadly crackdown, two sources familiar with the matter said on Wednesday.
The U.S is planning to step up sanctions on Myanmar, this time targeting business conglomerates controlled by the military.
Two sources familiar with the matter said on Wednesday that the U.S will blacklist Myanmar Economic Corporation and Myanmar Economic Holdings and will freeze any assets in the U.S. The military controls companies ranging from beer, a telecom, mining to real estate in the country.
Activists have also been calling for sanctions to go further and hit oil and gas projects.
The U.S has already slapped targeted sanctions on top military generals in response to the military coup overthrowing the democratically elected government.
The coup has sparked a widespread uprising, and security forces have cracked down on protesters and killed over 270 people.
The United States is planning to impose sanctions on two conglomerates controlled by Myanmar's military over the generals Feb. 1..
