News

The U.S. Treasury Department on Tuesday eased or entirely lifted certain sanctions against Myanmar amid efforts by the country's political elite to induce foreign investment and transition from military to democratic rule. Under amendments disclosed by the Office of Foreign Assets Control, or OFAC, U.S. financial institutions can handle funds tied to the movement of products from warehouses and factories to distribution centers and retail outlets within Myanmar, and process payments for rent, food and other living expenses incurred by Americans living in the country. Any transactions involving Myanma Foreign Trade Bank, Myanma Economic Bank or Myanma Investment and Commercial...