Swiss banks freeze accounts of Myanmar leaders

Switzerland banks have frozen the assets of members of junta amid increasing concerns over the human rights situation in the country.

Banks in Switzerland have frozen the assets of members of Myanmar's military regime amid increasing concerns over the human rights situation in the Southeast Asian country.

HT Image

The Swiss government has also announced plans to tighten sanctions against Myanmar, reported Mizzima News, the news agency run by Burmese (Myanmarese) in exile.

The decision brings the country in line with European Union (EU) sanctions on Myanmar, which were extended in April.

The fresh sanctions prohibit Swiss firms and companies from investing in Myanmar or loaning money to the 39 government-run enterprises.

Earlier this month, the Bank of England had imposed sanctions on Myanmar and frozen the assets of the country's military members.

The EU introduced financial sanctions on Myanmar's military officials and their families in 2000, before extending them in 2004 and 2005.