"Myanma Timber Enterprise (MTE) and Myanmar Pearl Enterprise (MPE) are being designated pursuant to Executive Order 14014, for being a political subdivision, agency, or instrumentality of the Government of Burma," said US Secretary of State Antony Blinken in a press release on Wednesday.
As a result, all property and interests in property of the entities that are in the US or in the possession or control of US persons are blocked and must be reported.
In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.
Unless authorized by a general or specific license, or otherwise exempt, all transactions by US persons or within or transiting the US that involve any property or interests in property of designated or otherwise blocked persons are prohibited.
The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person or the receipt of any contribution or provision of funds, goods, or services from any such person.
"Our action today reinforces our message to the military that the United States will continue to target specific funding channels and promote accountability for the coup and related violence," he stated.
"We will continue to support the people of Burma in their efforts to reject this coup, and we call on the military regime to cease violence, release all those unjustly detained, and restore Burma’s path to democracy," he added.