U.S. Lifts Sanctions on Myanmar Allies Amid Strategic Resource Concerns
The U.S. has lifted sanctions on several Myanmar allies two weeks after the junta head praised Trump. The move involves key companies linked to Myanmar's defense sector. This comes as the junta seeks to lower a tariff rate from 40% while Myanmar's rare earth minerals attract international strategic interest.
The United States announced on Thursday the removal of sanctions against several allies of Myanmar's ruling generals. This decision arrives just days after the nation's military leader, Min Aung Hlaing, praised former President Donald Trump and requested sanction relief in light of a looming tariff change.
The Treasury Department disclosed that KT Services & Logistics and its founder, Jonathan Myo Kyaw Thaung, along with MCM Group's owner Aung Hlaing Oo, Suntac Technologies' owner Sit Taing Aung, and Tin Latt Min, have been taken off the sanctions list. These entities were originally sanctioned for links with Myanmar's military.
Myanmar holds significant deposits of rare earth minerals vital for the tech industry, a strategic resource area where the U.S. competes with China for dominance. The junta's proposal to lower tariffs aims to strengthen economic ties and ensure continued access to these valuable minerals.
(With inputs from agencies.)
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