Business & Finance

Reuters exclusively reports U.S. blocked Myanmar junta attempt to empty $1 billion New York Fed account

Reuters exclusively reported that Myanmar’s military rulers attempted to move about $1 billion held at the Federal Reserve Bank of New York days after seizing power on Feb. 1, prompting U.S. officials to put a freeze on the funds. The Feb. 4 transaction was first blocked by Fed safeguards, Reuters sources said, then U.S. government officials stalled until an executive order by President Joe Biden gave them legal authority to block the transfer.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: North America
Countries: Myanmar
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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