Relaxation Of Sanctions On Burma - An Opportunity?

SUMMARY

Summary of sanctions in place in Burma:

EU: Ban on arms exports to, and investment in, Burma. Visa restrictions and asset freezes targeting key officials, ban on exports of gems, timber and metals. US: Arms embargo, bans on investment and financial services, as well as a ban on most Burmese imports. Steps to ease sanctions:

UK: Asset freeze on nearly 500 people and restrictions on key industries suspended. EU: Ban on certain ministers and officials suspended in January. Sanctions relaxed further in April. US: "Targeted" lifting of investment and financial services bans begun. Visa ban to be relaxed to help officials travel to US. Sanctions on people and institutions that oppose reform maintained. Ban on technical assistance was waived in February. EU AND UK SANCTIONS

Current sanctions:

Sanctions have been imposed on Burma by the European Union to coerce the military regime into entering into a genuine process of national reconciliation and to respect human rights and democracy. The measures in place can be summarised as:

arms embargo; assets freeze and visa ban on named individuals and entities associated with the ruling military regime; investment ban on named enterprises owned / controlled by the regime; suspension of most humanitarian aid and development programmes; ban on high level bilateral military / government visits; and ban on imports, exports and investment in Burmese timber, high value metals and precious stones . Lifted sanctions:

The European Union agreed on 23 April 2012 to suspend its sanctions against Burma for one year, retaining only its embargo on arms sales. At the annual review travel ban on some civilian leaders of Myanmar was lifted for a year, a decision was taken to keep all the diplomatic channels open and a ban on EU officials visiting the country was also lifted. However, an embargo on arms and equipment that can be used for internal repression will remain in place.

The decision will be reviewed in October, and is expected to lift sanctions targeting more than 800 companies in the logging, timber and mining sectors to allow investment in about 50 companies close to the government, and to end visa restrictions and travel bans affecting nearly 500 people.

What is prohibited by sanctions?

Activity

Currently sanctioned?

Arms embargo

Yes.

Assets freeze and visa ban

Suspended for one year.

Investment ban

Suspended for one year.

Suspension of most humanitarian aid and development programmes

Suspended for one year.

Ban on high level bilateral military / government visits

Suspended for one year.

Ban on imports, exports and investment in Burmese timber, high value metals and precious stones

Suspended for one year.

US SANCTIONS

Current sanctions:

The United States imposes sanctions on Burma by a variety of means, including certain laws and presidential executive orders (E.O.s) specifically targeting Burma, as well as laws that impose sanctions on countries for unacceptable behavior related to functional issues of...