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PetroChina receives second Iranian crude shipment via Myanmar terminal

A second Iranian VLCC discharged its cargo at the Myanmar oil terminal in August, indicating that state-run PetroChina is increasingly using the pipeline through the Southeast Asian country for importing Iranian crude to its refinery in southern China. The shipment comes at a time when refiners in the rest of Asia are starting to back […]

Will Myanmar become a conduit for Iranian crude into China?

On June 1, sometime between the US withdrawal from the JCPOA in early May, and its demand in late June that Asian buyers fully halt Iranian oil purchases, PetroChina snuck in a shipment of Iranian crude through Myanmar to its Yunnan Petrochemical refinery in southern China. On any other route, this would have been just […]

Myanmar has maintained military ties with North Korea, US officials claim

Myanmar’s military was believed in the past to have imported North Korean-made weapons and North Korean personnel also worked in Myanmar Myanmar’s military has maintained ties with North Korea, even though the civilian-led government denies any cooperation, and the Trump administration is pressing for a complete break-off of remaining links, current and former US officials […]

Easing of US sanctions on Myanmar to boost trade and investment

THE US Treasury’s tweaking of its Myanmar sanctions this week will boost trade and investment in the Southeast Asian country, and signals support for the mandate of the new civilian government led by Aung San Suu Kyi, writes Eric Yep. Entities close to the former military junta are still under sanction. But at the same […]

Cronies Disappointed As US Sanctions Extended

RANGOON — In wake of the extension of most of the US sanctions on Burma on Tuesday, several cronies have remained on the Specially Designated Nationals (SDN) list, despite the expectation that they would be removed. Sanctioned businessman Khin Shwe, chairman of the Zay Kabar Group of companies, told The Irrawaddy, “Some people have suggested […]

Extension of US sanctions ‘will not hurt us’: Myanmar’s Aung San Suu Kyi

NAY PYI TAW: The extension of US sanctions on Myanmar will not hurt the country, said Myanmar’s State Counsellor and Foreign Minister, Aung San Suu Kyi on Wednesday (May 18). Her first public remarks on the sanctions came at a joint news conference with visiting Singapore Foreign Minister Vivian Balakrishnan. The US announced on Tuesday […]

Financial system to struggle despite sanctions relief

Amendment to US sanctions against Myanmar aimed at supporting economic growth still leave an array of barriers to trade between the two countries. Effective yesterday, the United States removed three state-owned banks from its blacklist of Specially Designated Nationals (SDNs), and added two military-owned lenders to a general licence that allows financial transactions with those […]

FDI poised to flow on Myanmar’s political transition

Myanmar’s landmark November polls, lauded by international observers, may have given pause to foreign investors weighing the market — but the country’s political transition could attract a new rush of attention, according to industry experts. Once isolated under the regime of a military junta, Myanmar has made great strides in development under quasi-civilian rule. The […]

Foreign firms take aim at Myanmar’s 4th licence, despite risks

Seven foreign companies have submitted applications to enter Myanmar’s fast-growing telecoms market as the government moves forward on plans to award a fourth mobile licence this year. The companies, which the government did not name, are keen to take a piece of the country’s lucrative mobile segment, which has expanded from 15 million connections to […]

US sanctions force jade into a corner, say traders

Jade traders say US sanctions have forced them to rely on Chinese investors and buyers, who dodge taxes and operate with little to no transparency. If Washington were to remove sanctions, they say, it would speed up reform in the troubled sector. Since the US banned imports of gems and jade in 2003, China has […]