European Union foreign policy chief Boller said while attending a meeting of EU foreign ministers that the European Union will impose sanctions on 11 people involved in the Myanmar coup.
Reuters reported that the EU has imposed an arms embargo on Myanmar since 2018 and imposed sanctions on some senior military officials. The latest round of sanctions will be the EU’s biggest response to the Myanmar military since the coup. Boller said: “In Myanmar, we will impose sanctions on 11 people who participated in the coup and suppressed demonstrators.”
Reuters reported earlier that the EU is preparing measures and will disclose the targets of sanctions after the authorities make a formal decision. The EU is expected to take stronger measures against companies operated by the military.
EU diplomats said the sanctions may include parts of military-affiliated groups, such as Myanmar Economic Holdings Co., Ltd. (MEHL) and Myanmar Economic Corporation (MEC). EU sanctions will prohibit these companies from doing business with EU investors and banks.
It is reported that the companies under these soldiers come from multiple economic sectors, including mining, food and beverage manufacturing, hotels, telecommunications and banking.