US to renew most Myanmar sanctions with changes to aid business
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 US officials and congressional aides.
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An announcement on extending much of the International Emergency Economic Powers Act, or IEEPA, could come as soon as May 18 ahead of a visit to the Southeast Asian nation by Secretary of State John Kerry on May 22, officials said.
The US Treasury Department has significantly eased sanctions against Myanmar by issuing general licenses that give companies and investors exemptions to sanctions targeting more than 100 individuals and businesses, including some of Myanmar’s biggest business players.
US officials began lifting trade and financial sanctions against the country after military leaders launched reforms that led to a civilian government being formed in 2011, beginning its transformation from a half-century as an international pariah.
In December, Treasury temporarily relaxed trade restrictions on the country by allowing all shipments to go through its ports and airports for six months.
This time, Washington will likely offer more general licenses to specific companies, and take some people off Treasury's list of "Specially Designated Individuals" targeted for sanctions, congressional aides and US officials said.
Kerry's visit to Myanmar is his first since the party of Aung San Suu Kyi, the country's Nobel laureate, swept to power following a landslide election win in November. A constitution drafted by the country's former military rulers bars her from becoming president.
President Barack Obama's opening to Myanmar followed by its peaceful transition to an elected government is seen as one of his foreign policy achievements. He has visited there twice. But the administration also wants to maintain leverage on the country to guard against backsliding on reforms and to press for improvement on human rights.
By renewing the legal framework for sanctions even as it eases some measures, Obama will offer the private sector more breathing room while maintaining pressure on its military, which still holds significant political power. The sanctions had been due to expire on May 20.
