Myanmar military shifts arms financing to Thai banks from Singapore

BANGKOK -- Thailand has replaced Singapore as the preferred banker and leading source of military supplies purchased through the international banking system by Myanmar's military regime, after Singapore cracked down on Myanmar-related accounts at its top banks, a U.N.-sponsored investigation has found.

The findings also highlight a sharp decline in formal financial transactions by Myanmar's regime -- which calls itself the State Administration Council -- for weapons procurement, due mainly to increased pressure from Western sanctions on key government banks and U.S. actions to isolate the regime financially.