Cambodia slams U.S. sanctions on Cambodian tycoon

PHNOM PENH, Sept. 13 (Xinhua) — Cambodia on Friday lashed out at the United States for unilaterally imposing sanctions on a Cambodian tycoon and four related businesses.
In a statement, the Foreign Ministry expressed deep regret over the decision targeting Cambodian businessman Ly Yong Phat, his conglomerate L.Y.P. Group Co. Ltd., and four related businesses.
“The move, based on unconfirmed reports of forced labor linked to online investment scams, is politically motivated and runs counter to the spirit of reinforcing our bilateral cooperation and mutual trust,” the statement said.
The unilateral sanctions undermined respect for the international law and basic norms governing international relations, in particular principles of sovereignty equality and non-interference, the statement added.
“Through L.Y.P. Group, his (Ly Yong Phat) contributions to infrastructure development, job creation and poverty alleviation have positively impacted the lives of thousands of Cambodian people,” it said.
“Our government’s proactive measures in combating sophisticated cross-border criminal activities demonstrate a resolute commitment to uphold human dignity and the rule of law,” the statement said. ■