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US to renew most Myanmar sanctions with changes to aid business

WASHINGTON: The United States plans to renew the bulk of its sanctions against Myanmar when they expire next week, but will make some changes aimed at boosting investment and trade, according to several senior U.S. officials and congressional aides. An announcement on extending much of the International Emergency Economic Powers Act, or IEEPA, could come […]

U.S. temporarily lifts trade restrictions on Myanmar shipping hubs

The United States is temporarily easing trade restrictions on Myanmar by allowing all shipments to go through its ports and airports for six months, an effort to boost the Southeast Asian country’s opposition party after its landmark election win in November, U.S. officials said on Monday. The policy change, coming after Aung San Suu Kyi’s […]

U.S. Plans to Ease Myanmar Trade Sanctions

The U.S. Treasury Department is preparing to make it easier for American companies to do business through a port in Myanmar that is owned by a sanctioned company whose reclusive owner has close ties to the ruling military junta. Since July, U.S. banks have been wary of processing payments for trade through the main port […]

World powers line up to woo new administration

This summer, the U.S. Treasury Department received a petition from the financial industry asking for the removal of Asia World Port Management from the department’s sanctions list for Myanmar. The company operates Myanmar’s largest port. The U.S. deems its parent company, Asia World, as one of Myanmar’s past military government cronies, and banned U.S. companies […]

Myanmar’s formerly blacklisted businessman urges U.S. to delist others

(Reuters) – The first Myanmar businessman to be removed from a U.S. blacklist since the country emerged from military rule said on Thursday that the United States should delist more people so they can partner with American companies to develop the economy. Win Aung and his two companies, Dagon International Ltd and Dagon Timber Ltd, […]

U.S. removes prominent Myanmar businessman U Win Aung from sanctions list

WASHINGTON – The United States removed a prominent businessman from its Myanmar sanctions list on Thursday, in spite of doubts about reforms in the Southeast Asian country. Win Aung, the head of Myanmar’s chamber of commerce whose Dagon International construction firm won contracts to help build the country’s nine-year-old capital of Naypyitaw, was removed from […]

Sanctions Make Myanmar Business Difficult, Not Impossible

Myanmar’s 2011 shift to a civilian government, after decades of military dictatorship, shocked observers and paved the way for dizzying changes in the country’s economy. Companies are now eying opportunities in Myanmar, as a rapid easing in U.S. sanctions is making business in the country feasible for the first time in years. Still, while the […]