March 25, 2021
MEC and MEHL control a vast network of companies that channel profits into the Tatmadaw’s coffers.
The United States is reportedly set to impose sanctions on two large conglomerates linked to the Myanmar military, the latest retaliation by the Biden administration for the military’s seizure of power last month.
Reuters, citing “two sources familiar with the matter,” said that the move to blacklist Myanmar Economic Corporation (MEC) and Myanmar Economic Holdings Ltd (MEHL) could come as early as Thursday. The move would prevent the two firms and their many subsidiaries from making any transactions with U.S. persons or having any contact with the U.S. banking system, and would freeze any assets that they have in the U.S.