Switzerland Sanctions Myanmar's Economic Stronghold

Switzerland has sanctioned Myanmar's state-run Myanma Oil and Gas Enterprise, citing its role in supporting the military government. Originating from EU measures, this action is set to commence as Myanmar continues to face political instability following the military's 2021 coup.

Switzerland announced new sanctions on Monday against the Myanma Oil and Gas Enterprise, a state-run company pivotal to Myanmar's military government's finances.

The Swiss decision brings sanctions aligned with measures introduced by the European Union, which will take effect on Tuesday.

The move comes amid Myanmar's ongoing turmoil since the military coup in 2021, with widespread protests evolving into an armed rebellion following the ousting of elected leader Aung San Suu Kyi.

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