The Myanmar military, who came to power in the country in early February as a result of a coup, tried to transfer $ 1 billion from an account in the Federal Reserve Bank of New York. As Reuters reported on Thursday, citing sources, the US government stopped the transfer of funds.
They tried to implement it on behalf of the Central Bank of Myanmar. The Federal Reserve’s defense system halted the operation, and soon the President of the United States, Joe Biden, issued a decree allowing the transaction to be blocked indefinitely.
The Myanmar military announced on February 1 a state of emergency for a year and the removal of the country’s leadership, including President Vin Myin and state adviser Aung San Suu Kyi (as Reuters notes, the head of the central bank was also removed). Army representatives explained their actions with large-scale fraud in the November 2020 elections. The military has formed a new cabinet. Since the beginning of February, residents of the republic have come out to protests, which are harshly suppressed by the security forces.
Biden on February 10 announced the introduction of targeted sanctions against the participants in the military coup in Myanmar, as well as blocking their access to their country’s funds in the United States in the amount of $ 1 billion.