The U.S. on Tuesday imposed a form of sanctions on Myanma Oil and Gas Enterprise (MOGE), the U.S. Treasury Department said, but stopped short of imposing full blocking sanctions on the ruling junta's main source of foreign revenue.
The action prohibits certain financial services by Americans to the state oil and gas enterprise starting on Dec. 15, the Treasury said in a statement, in the first direct action against the state-owned enterprise. Washington has previously targeted its leadership. Financial services include loans, accounts, insurance, investments and other services, according to Treasury guidance.
Washington held back from adding the enterprise to the Specially Designated Nationals list, which would effectively kick it out of the U.S. banking system, ban its trade with Americans and freeze its American assets.