USA renews reduced Burma sanctions

The USA has renewed its sanctions regime on Burma/Myanmar for another year, published a new general licence, updated 2 existing licences, and amended its SDN List. The US Treasury’s press release explaining the changes is here.

The US imposed sanctions on Burma in 1997 and lifted its trade and investment bans in 2012 & 2013, but maintained the restrictions on importing Burmese jade or rubies and its SDN listings. The decision to renew sanctions on Burma is said to reflect ongoing concerns about people and entities who continue to obstruct political reform, commit human rights abuses, or propagate military trade with North Korea.  The US has eased its sanctions to support Burma’s political and economic progress following last year’s elections.

The new general licence authorises US persons to conduct most transactions ordinarily incident to living in Burma, such as paying rent and buying goods or services.  OFAC has updated General Licence 20, which authorises transactions ordinarily incident to exports to or from Burma involving a sanctioned person, to extend it indefinitely and permit certain transactions incident to the movement of goods within Burma.  OFAC also added 2 currently designated banks to another general licence, so that the US now authorises most transactions involving all Burmese financial institutions. OFAC has removed 7 state-owned enterprises from the SDN List, and designated 6 new companies that are owned 50% or more by already designated people or entities.

This entry was posted in Burma/Myanmar, USA by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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