Narinjara News, 23 February 2022

The European Union (EU) has imposed sanctions on 22 individuals and four organizations including theState-owned Myanmar Oil and Gas Enterprise(MOGE) on Tuesday.

It may be mentioned that MOGE is the State AdministrativeCouncil’s biggest single source ofrevenues, which is responsible for runningthe Myanmar government's budget. Furthermore, it is a joint venture to all offshore gas projects in thesouth-east Asian country.

About 50 percent of Myanmar's foreign exchange comes fromthe oil & gas industry andMOGE expects to receive $ 1.5 billion from offshore and pipeline projects in 2021-22 fiscal year, reported BETVBusiness News.

The move came after Total Energies, Chevron, Petronas,Mitsubishi Corporation andWoodside announced their plans to exit from the investments in Myanmar (Burma).

In an EU statement it revealed that the initiative was takenfollowing the military coup andthe military council's continued violenceagainst civilians and pro-democracy groups in the country.

"It is important for the EU to implement these measureseffectively and for the energycompanies that have now resigned from Burma to act in a way that no longer benefits the military," said JohnSifton, Asia policy director atHuman Rights Watch (HRW).

The EU also imposed sanctions on the State-owned number onemining enterprise, individualmembers of the Burmese junta and crony conglomerateInternational group of entrepreneurs, Htoo group of companies.

Justice For Myanmar’s spokesperson Yadanar Maung said, “Wewelcome this new round of EUsanctions. The designation of MOGE is a historic win for grassroot activists throughout Myanmar and around theworld, after a year of campaigningto stop oil & gas revenue to the ASC.”

It is  learned that till date the 27-nation council ofEU imposed sanctions on 65individuals and 10 organizations who are involved with serious human rights violations in Myanmar.