Oil Companies Help Fuel Abuses in Myanmar
(New York, November 18, 2021) –Energy and extractive company payments to Myanmar military-controlled businesses are supplying crucial revenue to Myanmar’s ruling junta and posing serious legal, financial, and reputational risks for investors, Human Rights Watch said today.
Transcript
MYANMAR HAS ABUNDANT NATURAL RESOURCES WORTH BILLIONS OF US DOLLARS IN REVENUE EVERY YEAR. THIS WEALTH BELONGS TO THE PEOPLE OF MYANMAR, BUT THIS REVENUE IS HELPING TO FUND A MILITARY JUNTA INSTALLED AFTER A COUP IN FEBRUARY 2021 WHICH HAS COMMITTED MASS ATROCITIES AGAINST THE PEOPLE OF MYANMAR. IN RESPONSE TO THE ABUSES FOREIGN GOVERNMENTS HAVE IMPOSED SANCTIONS TO STOP THE FLOW OF CASH TO THE JUNTA BUT THE JUNTA’S BIGGEST SOURCE OF FOREIGN CURRENCY REVENUE--FROM NATURAL GAS —REMAINS LARGELY UNTOUCHED. SEVERAL MAJOR OIL & GAS COMPANIES ARE STILL PAYING MILLIONS OF DOLLARS IN GAS REVENUES EACH MONTH TO THE JUNTA-CONTROLLED MYANMAR OIL AND GAS ENTERPRISE (MOGE). THE BIGGEST SOURCE OF FUNDS COMES FROM JOINT VENTURES LED BY TOTAL ENERGIES AND PTT THESE REVENUES LARGELY GO TO JUNTA-CONTROLLED MOGE. IF COMPANIES, INVESTORS, AND CONCERNED GOVERNMENTS WORK TOGETHER TO ENFORCE TARGETED SANCTIONS ON MOGE THIS MASSIVE REVENUE FLOW TO THE MILITARY JUNTA COULD BE STOPPED. ONLY COORDINATED ACTION WILL WORK TO COMPEL THE JUNTA TO RESPECT HUMAN RIGHTS AND TAKE STEPS TO RESTORE DEMOCRATIC RULE.
(c) 2021, Human Rights Watch
https://www.hrw.org/video-photos/video/2021/11/17/380433
