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ARTICLE · 31 JULY 2012

Burma Sanctions: US Eases Sanctions, Imposes Reporting Requirements

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Following the announcement this May that the United States would lift certain sanctions on Burma (Myanmar), on July 11, the US Treasury Department outlined two general licenses to the Burmese Sanctions Regulations.

United StatesInternational Law
Michael Zolandz
Michael Zolandz
Jeffrey Krilla
Jeffrey Krilla
Ambassador Robert Gelbard
Ambassador Robert Gelbard
Peter Feldman
Peter Feldman
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Following the announcement this May that the United States would lift certain sanctions on Burma (Myanmar), on July 11, the US Treasury Department, in concert with the US State Department, outlined two general licenses to the Burmese Sanctions Regulations1 that ease certain US financial and investment restrictions. These licenses permit the export to Burma of a wide range of financial services and financial products, and authorize the first new US investment in Burma in nearly 15 years.

In light of concerns within the US government regarding Burma's record on human rights and corruption, these new general licenses impose specific limitations on the export of financial services and the scope of authorized new investment. The US ban on imports from Burma also remains in effect - as do "Special Measures" under the USA PATRIOT Act relating to anti-money laundering concerns about Burma, Myanmar Mayflower Bank and Asia Wealth Bank. As with all foreign investments or

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