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The U.S. Chamber of Commerce and the
US-ASEAN Business Council invite AMCHAM Myanmar members to join a conference
call briefing and Q&A with State Department officials overseeing the
recalibration of U.S. economic sanctions against Myanmar. The briefing will be
led by Deputy Assistant Secretary for Southeast Asia, Patrick Murphy and Deputy
Assistant Secretary for Counter Threat Finance and Sanctions, Andrew Keller.
The call will be held on May 26 (Thursday), at 8:30 pm (Myanmar Time). The
dial-in information and codes follow below.
Background: On May 17 President Obama reauthorized the International Emergency
Economic Powers Act (IEEPA), the underlying legislation authorizing economic
sanctions against Myanmar, which was set to expire on May 20, while also
authorizing several steps through the Treasury Department to make doing
business in Myanmar easier for U.S. companies. While noting significant
progress in democratic governance, peace-building, and human rights, he wrote
that 'the situation in the country continues to pose an unusual and
extraordinary threat to the national security and foreign policy of the United
States.' In renewing IEEPA, the existing sanctions framework-most notable the
Specially Designated Nationals (SDN) list-will remain in place. The U.S.
Department of the Treasury's Office of Foreign Assets Control (OFAC) amended
the Burmese Sanctions Regulations and updated the SDN list.
Key steps taken included:
The removal of seven state-owned enterprises (SOEs) and three banks from the
SDN List
Adding two banks that are currently SDN listed to the general license
authorizing transactions with financial institutions
Renewal and expansion of General License 20, authorizing incidental expenses
around import and export
General license allowing U.S. persons residing in Myanmar to conduct
transactions incidental to living there
Raising the threshold for reporting requirements to $5 million Addition of six
companies owned 50% or more by Asia World to the SDN List.
Call in-information:
Toll-free dial-in number (U.S. and Canada): (888) 511-1812
Conference code: 2024166708
Singapore Toll-free: (800) 101-1593
Singapore Local: (+65) 6622-1024
Indonesia Toll-free: 001 (803) 100-25378
Malaysia Toll-free: 1 (800) 804-722
Philippines Toll-free: 1 (800) 1110-1281
Thailand Toll-free: 001 (800) 132-021-842
International dial-in: (216) 278-9605
