Three state-owned banks removed from the US blacklist of Specially Designated Nationals (SDNs)
The United States has removed, with effect from 18 May 2016, three Myanmar state-owned banks from its blacklist of specially Designated Nationals and added two military-owned leaders to a general licence, allowing financial transactions with those banks.
It also extended and expanded a general licence allowing transactions that go through ports and airports owned by or connected to SDNs or entities.
As aq result of amendments to the us sanctions against Myanmar, the Myanma Economic Bank, Myanmar foreign Trade Bank, and Myanmar Investment and Commercial Bank are sanction-free now. Due to these amendments, financial transactions between the US and Myanmar may become easier though it may not happen in the immediate future.
19 May 2016