Switzerland has announced sanctions against the Myanmar Oil and Gas Enterprise (MOGE), which operates under the military council, with Justice For Myanmar (JFM) welcoming this decision. The sanctions align with the European Union’s measures implemented on February 1, 2022. This action effectively blocks a significant funding channel that the military has been using to finance its operations against Myanmar civilians. The sanctions represent a crucial step in limiting the military’s access to foreign currency revenues that have been funding their violent campaigns against the people of Myanmar.
MOGE has been identified as the military regime’s largest source of foreign currency earnings, with the funds being utilized for purchasing military equipment, aviation fuel, and other military-related supplies. According to military council data, natural gas exports generated over $841.7 million in just three months. The Swiss sanctions came following pressure from JFM and media coverage in Tages-Anzeiger, demonstrating the effectiveness of coordinated advocacy efforts. The military council’s Myanmar Foreign Trade Bank, which MOGE uses for international transactions, maintains correspondent banking relationships in Switzerland, highlighting the significance of these sanctions.
Swiss insurance companies have been involved with MOGE operations, with Swiss-based Infrassure notably selected as a reinsurer for the China-Myanmar gas pipeline in 2021. The sanctions will impact these financial relationships and potentially disrupt the military council’s access to international financial systems. The decision by Switzerland to implement these sanctions demonstrates growing international recognition of the need to restrict the military council’s access to funding sources that enable their continued oppression of Myanmar’s civilian population.
JFM spokesperson Yadanar Maung welcomed Switzerland’s decision, emphasizing that it closes a significant loophole in EU sanctions and sends a message of solidarity with the Myanmar people who have been fighting for democracy for over four years against the military regime. The organization has also called on Canada, the UK, and Australia to follow Switzerland’s lead and implement similar sanctions against MOGE. This coordinated international approach to sanctions represents an important step in supporting Myanmar’s democratic aspirations and opposing the military council’s continued violence against civilians.
