Media Coverage
Source: Financial Times
Media Coverage
04.19.13
EU foreign ministers will decide next week whether to lift sanctions on Myanmar (also known as Burma) apart from an arms embargo. Although the decision must be unanimous, EU ambassadors are understood to have signaled their approval, setting the stage for formal ministerial approval.
While European investors welcome the removal of EU sanctions, uncertainty over U.S. sanctions continues to be a concern.
According to Aaron Hutman, a Washington, D.C.-based attorney in Pillsbury’s international trade practice, “given the substantial reforms to U.S. export control over the past year, the primary changes to U.S. sanctions for Myanmar going forward look to be via addition to and subtraction from the list.”
“The practical effect is to reward local actors who are supportive of U.S. policy by allowing them to share more heavily in the new investment coming to the country, while making it harder for difficult actors to participate,” Hutman said.