The Federal Reserve in New York holds billions of dollars from the Myanmar government. The military junta, which is currently in power, tried to remove one billion dollars from there. But the US authorities have blocked it. That is what Reuters reported.
The New York Fed has blocked Myanmar’s funds, according to several US government officials.
It is learned that the request to transfer the funds sent to the Central Bank of Myanmar on February 4 was first blocked by the Federal Reserve Bank of New York. U.S. officials later withheld the transfer of funds.
President Joe Biden later issued an executive order authorizing officials to suspend the transfer of funds. Neither the New York Fed nor the US Treasury Department agreed to comment on Myanmar’s account, Reuters reported.
Source: Bhorer Kagoj by www.bhorerkagoj.com.
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