US Sanctions Pose Huge Risks for Myanmar Businesses
A container port in Yangon. / The Irrawaddy
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By JOHN SQUIRE 2 April 2021
Since the Myanmar military’s coup of Feb. 1, the United States, European Union and other western countries have imposed targeted sanctions on military generals. On March 25, in a coordinated move, both the US and UK imposed sanctions on the military- owned Myanmar Economic Cooperation (MEC) and Myanmar Economic Holdings Limited (MEHL).
Recently, US authorities have become more aggressive enforcing sanction laws placing Myanmar and foreign businesses at increased risk of civil and criminal penalties including worldwide bank account seizures, heavy fines, and criminal prosecutions.
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