Tuesday, February 26, 2008

Burma: U.S. Treasury Department announces new sanctions

The United States has announced new sanctions on businesses and individuals linked to Burma's military regime.

The U.S. Treasury Department said that the sanctions apply to "two key financial operatives of the Burmese regime."

The restrictions prohibit U.S. citizens from doing business with the Burmese company Asia World Company Limited, controlled by Steven Law and his father, Lo Hsing Han.

The sanctions also apply to two hotel chains owned by Tay Za, a Burmese businessman listed by the Treasury as "an arms dealer and financial henchman of Burma's repressive junta."