Western banks are cutting trade finance in Myanmar after learning that part of the country’s main port is controlled by a man blacklisted by Washington, threatening to stop nascent U.S. economic ties with the Southeast Asian nation in their tracks. U.S. shipments to Myanmar have slowed to a crawl in recent months, after several banks […]
Sanctions fears choke nascent U.S. trade with Myanmar via Asia World Port
November 10, 2015 by thiha
Filed Under: Latest News Tagged With: Asia World Port, Bank of America, blacklist, Citigroup Inc, European banks, fear of US penalties, HSBC, Jose W. Fernandez, Moe Myint Kyaw, OFAC, Peter Harrell, Peter Kucik, PNC Financial, sea cargo, sea trade, Steven Law, trade embargo, trade financing, UMFCCI, US banks, US Sanctions, US SDN, US Treasury