U.S. Announces Conditional Suspension of Sanctions Against Burma With Strings
By SCOTT M. FLICKER AND DEVON E. WINKLES
Following through on prior announcements, on July 11 the Obama Administration formally suspended economic sanctions restricting U.S. investment and economic activity in Burma (Myanmar). The changes impose new reporting requirements, but otherwise completely lift prior limitations. We expect several U.S. companies to move quickly to enter this resource-rich market. Our clients, including financial institutions, may want to take advantage of this thaw in the political climate.