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Bandoola Transport is owned by the army-run Union of Myanmar Economic Holdings Ltd, the paper said.
He repeatedly stressed that trade relations with Myanmar will only strengthen the military, citing how foreign investors have to sign contracts first with the Union of Myanmar Economic Holdings, which is wholly owned by the country's Defense Ministry.
The Treasury Department sanctions targeted two state-controlled conglomerates, the Union of Myanmar Economic Holdings Limited and the Myanmar Economic Corporation, which are both involved in the gem trade, banking and construction directly and through subsidiaries also named for sanctions.