INDIA's Adani Ports and Special Economic Zone (APSEZ) will be removed from the Dow Jones Sustainability Indices following scrutiny over the company's commercial relationship with Myanmar, accused of human rights abuses.
After the military coup in February, a crackdown on protests has seen 700 people killed, drawing condemnation from human rights groups and international sanctions on military holding companies, notes London's Container Management.
The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned the military-affiliated Myanmar Economic Corporation, which APSEZ has paid US$30 million to in land lease fees according to leaked documents obtained by activist groups.
Detailing the reasons for sanctioning the MEC, director of OFAC Andrea Gacki stated: 'The US stands with the people of Burma and urges a return to its democratically elected government.
'By designating MEC and Myanmar Economic Holdings Public Company Limited (MEHL), Treasury is targeting the Burmese military's control of significant segments of the Burmese economy, which is a vital financial lifeline for the military junta.'
SeaNews Turkey
After the military coup in February, a crackdown on protests has seen 700 people killed, drawing condemnation from human rights groups and international sanctions on military holding companies, notes London's Container Management.
The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned the military-affiliated Myanmar Economic Corporation, which APSEZ has paid US$30 million to in land lease fees according to leaked documents obtained by activist groups.
Detailing the reasons for sanctioning the MEC, director of OFAC Andrea Gacki stated: 'The US stands with the people of Burma and urges a return to its democratically elected government.
'By designating MEC and Myanmar Economic Holdings Public Company Limited (MEHL), Treasury is targeting the Burmese military's control of significant segments of the Burmese economy, which is a vital financial lifeline for the military junta.'
SeaNews Turkey