Saturday 17 April 2021
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scmp - 1 month ago

US blocked Myanmar junta from emptying US$1 billion bank account in New York, official says

Myanmar’s military rulers attempted to move about US$1 billion held at the Federal Reserve Bank of New York days after seizing power on February 1, prompting US officials to put a freeze on the funds, according to three people familiar with the matter, including one US government official.The transaction on February 4 in the name of the Central Bank of Myanmar was first blocked by Fed safeguards. US government officials then stalled on approving the transfer until an executive order issued by…


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