Bush Slaps Fresh Sanctions On Myanmar's Military Regime

Friday, May 2, 2008

(RTTNews) - US President George Bush said on Thursday that he has ordered fresh sanctions against the military regime of Myanmar.

"Today I've issued a new executive order that instructs the Treasury Department to freeze the assets of Burmese state-owned companies that are major sources of funds that prop up the junta," Bush said, referring to the country by its former name.

Bush said that the fresh sanctions are to pressurize the Myanmar's military regime to end human rights violations and to restore democracy.

"Today I'm sending yet another clear message that we expect there to be change and we expect generals to honor the will of the people," Bush said.

Previously, the US treasury had frozen the financial assets of Myanmar's private companies and members of the country's military regime on orders of President Bush last October. It was in response to the country's military regime's crackdown on pro-democracy groups.

Earlier last week, the European Union had extended its political and economic sanctions against Myanmar for another six months and decided to only allow only limited EU development aid to the Southeast Asian nation.

Source