“Thai Central Bank to Probe Myanmar Weapons Payments”

“Thai Central Bank to Probe Myanmar Weapons Payments”, “Thailand’s central bank and anti-money laundering office have announced plans to investigate allegations that Thai commercial banks were involved in facilitating transactions related to weapons purchases by Myanmar’s military junta. This follows a statement from the foreign ministry on Wednesday (Jul 24).”

“Myanmar’s military ousted the government of Aung San Suu Kyi in 2021, triggering a violent crackdown that has plunged the country into turmoil.”

“The United States, European Union, and several other countries have imposed sanctions on key members of Myanmar’s military junta and various entities connected to its extensive business network. These sanctions are part of international efforts to pressure the junta following its seizure of power and subsequent crackdown.”

A report last month by a UN expert said the junta imported nearly US$130 million in weapons and military supplies from Thailand-registered suppliers in the year to March 2024.

Five commercial banks in Thailand had been crucial in facilitating the transfers, which were more than double the total of the previous year, according to special rapporteur Tom Andrews.

On Wednesday, government and banking officials had discussed “transactions that may be linked to the purchase of weapons and military supplies and the Myanmar government”, Thai foreign affairs spokesman Nikorndej Balankura said in a statement.

The Bank of Thailand and the anti-money laundering office “will jointly establish a Task Force to investigate these transactions”, he said.

The coup, which ended a short-lived experiment with democracy, plunged the Southeast Asian nation into turmoil.

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