U.S. Significantly Eases Sanctions on Burma
July 12, 2012
On July 11, 2012, the U.S. issued general licenses that effectively suspend most of its sanctions against Burma, including permitting new investment for the first time in 15 years and authorizing the exportation of financial services to Burma. Remaining sanctions are generally limited to Burmese Specially Designated Nationals (SDNs), the Burmese military, and Burmese imports to the United States. However, the new Burmese licenses impose public reporting requirements relating to human rights, environmental, and corruption issues on U.S. persons making new investments in Burma. The underlying sanctions regulations also remain in place; the U.S. will continue to monitor developments in Burma and is retaining the option to impose targeted sanctions or re-impose broader restrictions as events warrant.