Treasury Department issues inter-agency business advisory on Burma | Hogan Lovells

On January 26, 2022, the U.S. Department of the Treasury, in conjunction with the Departments of State, Commerce, Labor, Homeland Security, and the Executive Office of the President, issued an inter-agency advisory for businesses and individuals doing business in Burma. The advisory alerts U.S. businesses and individuals doing business in Burma to the particular risk of doing business with the Tatmadaw military regime responsible for the February 2021 coup, and has since been involved in human rights abuses, corruption, and illegal arms trafficking. The advisory does not have force of law and does not impose any new controls or sanctions on Burma. Instead, it provides a holistic overview of the risks of doing business in Burma and provides recommendations to the business community regarding sanctions and money-laundering risks of doing business in Burma. The advisory notes the…