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EU and U.S. Amend Burmese Sanctions
30 April 2013
The European Union and United States have both taken steps to lift economic and trade sanctions applicable to dealings with Burma. These steps are a welcome development for E.U. and U.S. businesses seeking to invest in Burma.
On April 22, 2013, the European Union lifted all sanctions on Burma with the exception of an arms embargo. This follows a suspension of most sanctions in May 2012.
Although the United States has not formally repealed the Burmese sanctions, the Treasury Department’s Office of Foreign Assets Control, in consultation with the U.S. State Department, has issued general licenses that authorize nearly all transactions with Burma that would otherwise be prohibited.
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