EU imposes sanctions on MEHL and MEC

EU imposes sanctions on MEHL and MEC
Photo: EPA

The European Union has agreed to impose sanctions on another 10 individuals linked to the Feb. 1 coup in Myanmar and to target two businesses run by the armed forces for the first time in protest at the military takeover, Reuters reported quoting two diplomats.

The measures, which the diplomats said could take effect next week, would target two companies, Myanma Economic Holdings Limited (MEHL) and Myanmar Economic Corporation (MEC), that generate revenue for the Myanmar Armed Forces. Reuters first reported preparations for the measures on March 8.

While the EU has an arms embargo on Myanmar and targeted 11 senior military officials last month, the decision to target two companies is the most significant response so far for the bloc since the coup that ousted an elected government.