US sanctions Myanmar’s junta-controlled state oil and gas enterprise

Sanctions imposed on Myanma Oil and Gas Enterprise in US’s first direct action against junta’s main source of foreign revenue

The United States imposed sanctions on Myanma Oil and Gas Enterprise (Moge) on Tuesday, the first time it has directly targeted the entity that is Myanmar’s ruling junta’s main source of foreign revenue.

The action, first reported by Reuters, prohibits certain financial services by Americans to the state oil and gas enterprise starting on 15 December, the treasury said in a statement. Financial services include loans, accounts, insurance, investments and other services, according to treasury guidance.