New Delhi (Mizzima) – The United States has frozen assets of two Burmese businessmen and their companies for aiding the military rulers of the country, which is internationally condemned for abusing the rights of its own citizens.
The US Treasury Department's Office of Foreign Assets Control on Thursday announced freezing assets of Burmese business tycoons Win Aung and Zaw Zaw, and their business entities accounting for 14 companies.
The OFAC said both Win Aung and Zaw Zaw are among key financial backers of the Burmese military regime and had added them to the black-list under the Tom Lantos Block Burmese Junta's Anti-Democratic Efforts (JADE) Act of 2008.
Adam J. Szubin, Director of the OFAC, in a press statement on Thursday said the US Congress and the Administration will apply vigorous sanctions against Burma's military junta as long as it continues to suppress democratic dissent.
"The junta's imprisonment of prominent democracy advocates confirms Burma's unwillingness to abide by international commitments and underscores the need to maintain pressure against one of the world's worst violators of human rights," Szubin said.
Win Aung, (55) is a construction tycoon and has reportedly made large financial donations to the Burmese junta and has provided services in support of the regime on significant construction projects. Win Aung is being designated along with two of his companies, Dagon International Limited and Dagon Timber Limited.
Zaw Zaw (42) is the managing director of the Max Myanmar Group of Companies, which has extensive holdings in timber, gems, construction, resort properties and hotels. Treasury's action targets eight companies of the Max Myanmar Group as well as Zaw Zaw's Singapore-based company, Max Singapore International Pte. Ltd.
Besides, the OFAC has also broadened existing sanctions against the financial network of Tay Za, who the U.S. agency described as "a notorious regime henchman and arms dealer;" 10 Singaporean firms owned or controlled by Cecilia Ng and her husband Steven Law, who were designated by the OFAC in February 2008, and Myanmar Ivanhoe Copper, owner of the country's largest copper mine.
OFAC has now subjected 100 individuals and entities to its Burma sanctions, targeting key state-owned enterprises, senior junta officials, regime cronies and their business networks.
The sanctions, which also prohibits US citizens from doing business with the designated persons and companies, is one of the final actions on human rights by the outgoing Bush administration.
Despite the US financial sanctions, Burma's military government has reportedly continued to suppress political dissidents by arresting them and sentencing them to long prison terms.
In early January, during a secret prison court trial in Ohbo prison of Mandalay, the junta sentenced a student activist, Bo Min Yu Ko, to a total of 104 years of imprisonment, the longest so far.
