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Business News/ News / World/  German company halts supply of Myanmar bank note components
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German company halts supply of Myanmar bank note components

This is a reaction to the ongoing violent clashes between the military and the civilian population, the company said
  • The United States, Britain and the European Union have announced a range of sanctions targeting top police and military commanders linked to the coup
  • The company had already restricted its supply of raw materials, supplies and system components for the production of banknotes in recent weeks (Representational image) (REUTERS)Premium
    The company had already restricted its supply of raw materials, supplies and system components for the production of banknotes in recent weeks (Representational image) (REUTERS)

    A German company that supplies products to make Myanmar bank notes has suspended deliveries in response to growing violence following the military coup to oust civilian leader Aung San Suu Kyi, it said Wednesday.

    Giesecke and Devrient said in a statement that it was halting all deliveries to Myanmar's state-owned Security Print Works "with immediate effect".

    "This is a reaction to the ongoing violent clashes between the military and the civilian population," the Munich-based company said.

    The company had already restricted its supply of raw materials, supplies and system components for the production of banknotes in recent weeks.

    Myanmar's junta has unleashed deadly violence on protesters who have risen up against the military's ousting of Suu Kyi last month.

    More than 500 civilians have been killed in the violence, and world powers have ramped up their condemnation of the military's campaign against the anti-coup movement.

    The United States, Britain and the European Union have announced a range of sanctions targeting top police and military commanders linked to the coup, as well as military-owned companies.

    As the EU sanctioned Myanmar's top junta chief and 10 other officials last week, German Foreign Minister Heiko Maas called the violence "completely unacceptable".

    The US State Department has ordered the departure of non-essential diplomatic staff and their families from Myanmar, and Japan -- a top donor to the country -- has halted new aid payments.

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    Published: 31 Mar 2021, 04:22 PM IST
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