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ARTICLE · 26 MAY 2016

Burma (Myanmar) Sanctions

Hughes Hubbard & Reed LLP
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On May 18, 2016, the U.S. government took further steps to ease its sanctions against Burma (Myanmar), although stopping short of totally lifting the sanctions.

United StatesInternational Law
F. Amanda DeBusk
F. Amanda DeBusk
Melissa Duffy
Melissa Duffy
Alan Kashdan
Alan Kashdan
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On May 18, 2016, the U.S. government took further steps to ease its sanctions against Burma (Myanmar), although stopping short of totally lifting the sanctions. The U.S. Treasury Department, Office of Foreign Assets Control ("OFAC") lifted sanctions against several banks and state-owned businesses. OFAC also eased restrictions to make it easier for U.S. persons to live and work in Myanmar. In addition, the State Department announced that it is working to raise the size of an investment that will trigger investment reporting requirements - from $500,000 to $5 million.

At the same time, as part of the effort to support further change in Myanmar, the U.S. added companies owned by blocked parties to the list of prohibited parties and renewed the presidential declaration of a national emergency with respect to Myanmar, which is the basis for sanctions.

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