Australia has ramped up its sanctions against the military regime in Myanmar, specifically targeting five entities with direct links to the military. According to an announcement by Minister for Foreign Affairs Penny Wong, the new sanctions are aimed at the Myanmar Foreign Trade Bank and the Myanmar Investment and Commercial Bank, along with Asia Sun Group, Asia Sun Trading Co Ltd and Cargo Link Petroleum Logistics Co Ltd.
The amplified sanctions are a direct response to continual repression by the military regime, escalating violence, and a decline in political, humanitarian and security conditions in Myanmar. This news comes three years after the military illegally took power.
These financial sanctions are designed to disrupt income flow to the military junta and restrict access to resources. This is the Australian Government’s strategy to hinder the Myanmar military’s operations and lessen the negative impacts of their rule.
Following suit, several Western nations have also recently imposed new sanctions against the military regime in Myanmar, with the US and UK announcing further sanctions.
However, Australia’s actions have been criticized by democracy activists who argue that its leaders haven’t gone far enough. They are calling for Australia to mirror the US, UK and EU, who have issued over 400 sanctions collectively.
In particular, the mining industry has been spotlighted by CEO of Transparency International Australia, Clancy Moore, as a sector where further sanctions could be applied. This comment was in response to a report revealing that at least 10 companies with Australian ties continue to operate in Myanmar’s military-run mining sector.
The extended sanctions come three years after the military—an organization known as the Tatmadaw—initially staged a coup in February 2021. They claimed the 2021 election results were fraudulent and proceeded to detain top government officials. The coup has led to widespread protests and civil disobedience across the nation.
The international community has responded with alarm to the military’s overthrowing of the democratic government, as Myanmar citizens face ongoing violence and humanitarian crises. Since 2023, sanctions have been levied by the EU, US, UK and Canada with a focus on Myanmar’s financial services, armaments supply, and operations involved in providing aviation fuel to the military.