Any changes to U.S. economic sanctions policies on Sudan and Myanmar will be slow moving, if they occur at all, despite recent diplomatic overtures and speculation, say analysts. On Tuesday, U.S. Secretary of State Hillary Clinton said that the White House was willing to remove Sudan from its list of state sponsors of terrorism should the country recognize a scheduled January vote potentially allowing South Sudan to secede. The vote is mandated by a 2005 peace accord that ended a civil war that killed two million people. In the same speech before the United Nations Security Council, Clinton said that...
Sources in Sudan and the United States believe American officials may roll back sanctions against the North African country, which has been subject to a comprehensive U.S. trade embargo for nearly 20 years.
For nearly 20 years, U.S. sanctions have stymied Sudan's economic growth while doing little to stop savvy bankers from doing business in the country, according to Bader Eldin Mahmmoud Abbas Mukhtar, the country's minister of finance and national economy.
A U.S. Treasury Department decision to effectively lift sanctions on four of Myanmar's largest banks has done little to entice American financial institutions to do business in the country, say industry representatives.
High-profile sanctions cases are spurring large banks and third-party software vendors to improve how they identify when counterparts and clients secretly act on behalf of blacklisted entities, say compliance experts.
U.S. lawmakers, responding to a violent crackdown on protesters in August, are seeking to stop Myanmar's military leadership from importing rubies into the U.S. and laundering the proceeds through U.S. companies with business interests in Myanmar.