Executive Order Allows New U.S. Investment in Burma

For almost 15 years, the United States has maintained an economic sanctions program against Burma (Myanmar), in reaction to that government’s record on human rights. Until July 11, 2012, the former sanctions program prohibited (i) the import into the U.S. of certain Burmese jadeite and ruby items, and other items of Burmese origin; (ii) the export from the U.S. to Burma of certain financial services; (iii) new investment (and the facilitation of new investment) by U.S. persons in Burma; and (iv) U.S. persons and entities from purchasing shares in a third country company if the company’s profits are predominantly derived from its economic development of resources located in Burma. The sanctions programs also blocked the property of specific people and entities as listed by the U.S. Department of the Treasury.

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