Rights expert urges banks to stop financing Myanmar junta weapons trade

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Rights expert urges banks to stop financing Myanmar junta weapons trade

Since the February 2021 coup, over 5,000 civilians have been killed, at the least three million displaced. More than 20,000 political prisoners stay incarcerated. Military airstrikes in opposition to civilian targets have elevated five-fold within the final six months, even because the junta loses navy outposts, territory, and troops to resistance forces.

Potential enablers

In a new report, Tom Andrews, UN Special Rapporteur on Myanmar, recognized 16 banks in seven nations that processed transactions linked to the junta’s navy procurement over the previous two years.  

Additionally, 25 banks offered correspondent banking providers to Myanmar’s state-owned banks below junta management.

“With the junta on its heels, it is critical that financial institutions take their human rights obligations seriously and not facilitate the junta’s deadly transactions,” he said.

He highlighted that banks concerned with Myanmar State-owned banks are at excessive danger of enabling navy assaults on civilians and emphasised their elementary obligation to keep away from facilitating crimes, together with battle crimes and crimes in opposition to humanity.

Tom Andrews, Special Rapporteur on the scenario of human rights in Myanmar

Good and unhealthy information

He famous a decline within the Myanmar navy’s annual procurement of weapons and navy provides via the formal banking system, from $377 million to $253 million within the yr ending March 2023.

However, he warned that the junta circumvents sanctions by exploiting gaps, shifting monetary establishments, and leveraging insufficient coordination and enforcement amongst member states.

“The good news is that the junta is increasingly isolated … the bad news is that the junta is circumventing sanctions and other measures by exploiting gaps in sanctions regimes, shifting financial institutions, and taking advantage of the failure of Member States to fully coordinate and enforce actions,” the Special Rapporteur stated.

Shift from Singapore to Thailand

The report Banking on the Death Trade: How Banks and Governments Enable the military Junta in Myanmar examined “a dramatic shift” within the position of two Association of Southeast Asian Nations (ASEAN) nations as sources of weapons and navy provides.  

Following last year’s identification of Singapore as a significant source, the Singaporean authorities investigated the entities concerned, leading to a 90 per cent drop in weapons flowing to Myanmar from Singapore-registered firms.

Conversely, navy procurement via Thailand has moved in the wrong way, the news release famous.  

The junta imported almost $130 million in weapons and navy provides from Thailand-registered suppliers within the yr ending March 2024 – greater than double the whole from the earlier yr.  

Thai banks have performed an important position on this shift. The Siam Commercial Bank, for example, facilitated simply over $5 million in transactions associated to Myanmar navy within the yr ending March 2023, however that quantity rose sharply to over $100 million the next yr.

Political will wanted

“Singapore’s example demonstrates that a Government with sufficient political will can make a significant difference toward shutting down the Myanmar death trade,” Mr. Andrews burdened.

“Thailand has an opportunity to follow this powerful example by taking action that will deal a huge blow to the junta’s capacity to sustain its escalating attacks on civilian targets. I urge it to do so,” he concluded.

Appointed by the Geneva-based UN Human Rights Council, and forming of part of its Special Procedures, Special Rapporteurs are mandated to monitor and assess the rights scenario in sure thematic or nation conditions.

They work voluntarily, are usually not UN employees and don’t obtain a wage.

A rural road in Myanmar. (file photo)

A rural highway in Myanmar. (file picture)

UN meals warehouse looted

Amidst the continued battle, a warehouse of the UN emergency meals reduction company was looted and set on fire in Maungdaw, northern Rakhine province final Saturday.

It was holding 1,175 metric tons of life-saving meals and provides, sufficient emergency meals to maintain 64,000 folks for one month. However, due to elevated battle within the area, its employees haven’t been in a position to entry the warehouse since late May.

The UN World Food Programme (WFP) strongly condemned the incident, stressing that the seizure of humanitarian items and destruction of services undermined its meals assist programme to conflict-affected populations in Myanmar.

It known as on all events to the battle to uphold their obligations below worldwide humanitarian legislation to respect and shield help services and property and guarantee humanitarians have unfettered entry.  

WFP is gathering particulars of the circumstances surrounding the incident, the company stated.

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