U.S. Treasury Department

US to renew most Myanmar sanctions with changes to aid business

May 16, 2016 by Thiha

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 […]

Filed Under: Latest News Tagged With: aung san suu kyi, Barack Obama, Ben Cardin, Buddhist Myanmar, congressional aides, Foreign Relations Asia subcommittee, Frontier Markets, human rights, International Emergency Economic Powers Act, Jack Lew, John Kerry, Kerry, Nobel laureate, Peter Kucik, renew, Republican and Democratic leaders, Rohingya Muslims, Senators Cory Gardner, Southeast Asian, Specially Designated Individuals, U.S. Congress, U.S. officials, U.S. Treasury Department, United States, WASHINGTON

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

December 8, 2015 by Thiha

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 […]

Filed Under: Latest News Tagged With: Asia World Port, aung san suu kyi, Bank of America, Citigroup, Financial Institutions, lifting sanctions, Myanmar Citizens, Myanmar’s military, NLD, Peter Harrell, PNC Financial, U.S. sanctions, U.S. Treasury Department, United States

U.S. Plans to Ease Myanmar Trade Sanctions

December 7, 2015 by Thiha

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 […]

Filed Under: Latest News Tagged With: American Companies, asia world, aung san suu kyi, Bob Corker, Godfather of Heroin, Human Rights Watch, Lo Hsing Han, military junta, President Barack Obama, Scot Marciel, Senate Foreign Relations, Steven Law, U.S. sanctions, U.S. Treasury Department

World powers line up to woo new administration

November 19, 2015 by Thiha

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 […]

Filed Under: Latest News Tagged With: asia world, aung san suu kyi, Chinese President, Myanmar's Indian Ocean, oil and natural gas, outheast Asian nations, President Barack Obama, President Thein Sein, U.S. Treasury Department, Xi Jinping

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

May 4, 2015 by thiha

(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, […]

Filed Under: Latest News Tagged With: China, Dagon International Ltd, Dagon Timber Ltd, John Viverito, Myanmar, Naypyitaw, Reuters, U.S. Treasury Department, United States, Wikileaks, Win Aung

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

April 24, 2015 by thiha

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 […]

Filed Under: Latest News Tagged With: aung san suu kyi, Dagon International, Myanmar, Naypyitaw, President Thein Sein, SDN, sdn list, Southeast Asian, Specially Designated Nationals and Blocked Persons list, the United States, U.S. State Department, U.S. Treasury Department, WASHINGTON, Wikileaks, Win Aung

Sanctions Make Myanmar Business Difficult, Not Impossible

August 28, 2014 by thiha

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 […]