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Sunday, May 5, 2024

Myanmar junta’s growing reliance on extractives for cash raises concerns

  • Following the military coup on Feb. 1 and a forceful crackdown on protesters, activists are calling on companies that operate in Myanmar to sever links with the military junta.
  • As the U.S., U.K., EU and Canada impose increasingly tough sanctions on the junta, future sanctions targeting revenues from the oil and gas sector are likely to have the greatest impact.
  • Alongside the humanitarian crisis, advocates say they fear a return to direct military rule could also lead to a backslide in environmental protections.
  • Further concerns include a surge in illegal rare earth mining in northern regions and the potential for the military to resume issuing permits for gemstone mining.

CHIANG MAI, Thailand — As the military regime entrenches itself in Myanmar following its Feb. 1 coup and forceful crackdown on protesters, activists are calling on companies that operate in the country to sever links…

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