The United Nations has called for international sanctions against businesses linked to Myanmar’s military, which holds a stake in a wide variety of industries, including oil, jade, minerals, construction, aviation and beer. The statement by the UN Fact-Finding Mission on Myanmar encourages foreign investors to cut all business ties with Military-owned or affiliated enterprises, claiming that it directly funds what the UN has labelled “extensive and systematic” human rights violations against Rohingya Muslims on the western border. In addition to so-called “crony companies” with strong ties to the military, the statement specifically targets the Union of Myanmar Myanmar Economic Holdings Limited (UMEHL) and Myanmar Economic Corporation (MEC), two military-backed companies primarily known for jade and ruby mining operations, but with investments in dozens of other companies and industries, including a 45% share of Myanmar Brewery Limited, the country’s largest beer manufacturer.

Shortly after the statement’s release, Myanmar’s foreign ministry responded by saying it “categorically rejects the latest report and its conclusions.”

“We regard the report as an action intended to harm the interests of Myanmar and its people,” the statement continued.

For decades, Myanmar languished under strict global economic sanctions against its former military regime. These were gradually lifted following the country’s 2015 election, although several former and current military officers remained on global blacklists. Many key political and economic allies distanced themselves from State Counsellor Daw Aung San Suu Kyi and her NLD government following the alleged human rights abuses in 2017, but it remains to be seen whether or not the US, the EU and other trade partners will reinstate official sanctions.