Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Biden threatens U.S. sanctions in response to Myanmar coup

Published 02/01/2021, 12:04 PM
Updated 02/01/2021, 03:10 PM
© Reuters. President Biden travels to Walter Reed Medical Center from the White House in Washington

By David Brunnstrom, Matt Spetalnick and Jarrett Renshaw

WASHINGTON (Reuters) - U.S. President Joe Biden on Monday threatened to reimpose sanctions on Myanmar following a coup by the country's military leaders and called for a concerted international response to press them to relinquish power.

Biden condemned the military's takeover from the civilian-led government on Monday and its detention of elected leader and Nobel laureate Aung San Suu Kyi as "a direct assault on the country’s transition to democracy and the rule of law."

The Myanmar crisis marks a first major test of Biden's pledge to collaborate more with allies on international challenges, especially on China's rising influence, in contrast to former President Donald Trump's often go-it-alone "America First" approach.

It also represented a rare policy alignment between Biden's fellow Democrats and top Republicans as they joined in denouncing the coup and urging Myanmar's military face consequences.

"The international community should come together in one voice to press the Burmese military to immediately relinquish the power they have seized, release the activists and officials they have detained," Biden said in a statement.

"The United States removed sanctions on Burma over the past decade based on progress toward democracy. The reversal of that progress will necessitate an immediate review of our sanction laws and authorities, followed by appropriate action," he said.

Biden also called on the military in Myanmar, which is also known as Burma, to lift all restrictions on telecommunications and to refrain from violence against civilians.

He said the United States was "taking note of those who stand with the people of Burma in this difficult hour."

"We will work with our partners throughout the region and the world to support the restoration of democracy and the rule of law, as well as to hold accountable those responsible for overturning Burma’s democratic transition," he said.

Suu Kyi's National League for Democracy party won a landslide 83% in a Nov. 8 election. The army said in taking over in the early hours of Monday that it had responded to what it called election fraud.

'INTENSIVE' CONSULTATIONS

White House spokeswoman Jen Psaki told a regular news briefing the United States has had "intensive" conversations with allies about Myanmar. She declined to say what other actions were under consideration aside from sanctions.

Asked whether Biden’s assertion that the United States was “taking note" of how other countries respond was a message to China, Psaki told reporters: “It’s a message to all countries in the region."

The top Democrat on the Senate Foreign relations committee, Robert Menendez, said the United States and other countries "should impose strict economic sanctions, as well as other measures" against Myanmar's army and the military leadership if they did not free the elected leaders and remove themselves from government.

Menendez also charged that the Myanmar army was guilty of "genocide" against minority Rohingya Muslims - a determination yet to be stated by the U.S. government - and of a sustained campaign of violence against other minorities.

U.S. Senate Republican leader Mitch McConnell, who like members of the Biden administration has had close past ties with Suu Kyi, called the arrests "horrifying" and demanded a tough response.

"The Biden Administration must take a strong stand and our partners and all democracies around the world should follow suit in condemning this authoritarian assault on democracy," he said.

McConnell added that Washington needed to "impose costs" on those behind the coup.

The events in Myanmar are a significant blow for the Biden administration and its effort to forge a robust Asia Pacific policy to stand up to China.

Many of Biden's Asia policy team, including its head, Kurt Campbell, are veterans of the Obama administration, which at the end of former President Barack Obama's term hailed its work to end decades of military rule in Myanmar as a major foreign policy achievement. Biden served as Obama's vice president.

© Reuters. President Biden travels to Walter Reed Medical Center from the White House in Washington

Obama started easing sanctions in 2011 after the military began loosening its grip, and he announced in 2016 the lifting many of the remaining sanctions. But in 2019, the Trump administration imposed targeted sanctions on four military commanders, including General Min Aung Hlaing, over human rights abuses against Rohingya Muslims and other minorities.

Latest comments

When americans will mind their own business in isolated North America?
Sniffer lives to give away cash.
he we go..lets spend American money...
Sniffer has no clue what it going on
No need to interfere with other peoples business. Just mind ur own business. Very civilization evolves at its own pace.
So you dont care, when a neighbor beaten og kidnapped.. Good mind..
except they are not our neighbor. they need to fix their own problems.
Joe is too busy moving heaven and earth to eradicate the virus.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.