CNI News

23 Oct 2022

The blacklisting of Myanmar by the Financial Action Task Force amounts to an attempt to eliminate the military dictatorship, General Secretary U Sai Leik of the Shan Nationalities League for Democracy told the CNI.

He added that the move was just a political pressure on the country and it is necessary to watch the situation whether it is beneficial for the public.

U Sai Leik told the CNI, “It is a political pressure on the junta but also an attempt to eliminate the military dictatorship or to know whether the junta can control the country. We will have to wait and see the impacts and benefits of it.”

While Myanmar is facing political instabilities and economic fall, the FATF listed Myanmar in its blacklist on 21^st October.

The FATK meeting.

The blacklisting will have negative effects not only on the public but also on companies who are engaged in foreign trade, EAO leader Col Khun Okkar told the CNI.

He said, “The entire system is almost collapsing including the economic, education and health and other sectors. Now, they are being punished for the collapse of the financial sector. For the political collapse, it is necessary to impose economic sanctions. What are they doing? Everything is leading to total collapse. When we are blacklicked, it will take a long time to remove it from the list. We need to change everything including the political, administrative and every system. We will have to change the entire system.

Myanmar was blacklisted at the meeting of over 200 countries on 21^st October in Paris by the Chairman of the FATF of Singapore.

The decision placed Myanmar at the same place as North Korea and Iran.