SINGAPORE, 23 February 2022: The European Union (EU) on Monday imposed sanctions on Myanma Oil and Gas Enterprise (MOGE) and on crony companies that could indirectly impact a hotel project in Yangon, Justice for Myanmar reported.
MOGE is the junta’s biggest single source of revenue, responsible for financing its terror campaign, the JFM statement alleged.
The move comes after TotalEnergies, Chevron, Petronas, Mitsubishi Corporation and Woodside announced plans to exit from their investments in Myanmar.
The EU has also imposed sanctions on the state-owned Mining Enterprise, individual members of the Myanmar military junta and the so-called crony conglomerates International Group of Entrepreneurs (IGE) and Htoo Group of Companies, FFM reported.
Describing itself as a “group of covert activists,” JFM noted that the “EU sanctions against IGE should send a strong message to POSCO International and Lotte Hotels & Resorts, which continue to partner with IGE in the Lotte Hotel project, on land leased from the Office of the Quartermaster General.”
Justice For Myanmar spokesperson Yadanar Maung said: “We welcome this new round of EU sanctions. The designation of MOGE is a historic win for grassroots activism throughout Myanmar and worldwide, after over a year of campaigning to stop oil and gas revenue flowing to the terrorist military junta.
“Sanctions on MOGE are essential to deny the junta the funds it needs to finance its increasing and intensifying violent attacks against civilians, which amount to war crimes and crimes against humanity,” the JFM statement read.
“EU sanctions send a strong signal that the Myanmar junta cannot continue business as usual, but it is not enough. Other governments, including the US and Japan, must now follow with sanctions on MOGE, other military-controlled businesses and their significant associates.”
(Source: Justice For Myanmar)