https://sanctionsnews.bakermckenzie.com/us-government-issues-supplemental-business-advisory-for-myanmar/
GLOBAL SANCTIONS AND EXPORT CONTROLS BLOG
US Government Issues Supplemental Business Advisory for Myanmar
FEBRUARY 20, 2024 By ALISON J. STAFFORD POWELL, EUNKYUNG KIM SHIN AND ALEXANDRA KUMAR 5 MINS READ
On January 26, 2024, the US Departments of State, Treasury, Commerce, Homeland Security, and Labor, and the Office of the US Trade Representative published a Supplemental Business Advisory (“Supplemental Advisory&rdquointended to highlight additional high-risk sectors and activities and update guidance for individuals, businesses, financial institutions, and other persons (e.g., investors, consultants, non-governmental organizations, due diligence service providers) regarding continued risks of doing business in Myanmar/Burma. The Supplementary Advisory incorporates significant sanctions developments against Myanmar since the previous advisory on similar topics was issued in 2022.
Our blog post on the 2022 advisory is available here.
Additional Sectors and Activities of Concern
The Supplemental Advisory primarily identifies additional sectors and activities of concern in Myanmar identified as generating revenue for the military (often via state monopolies or monopoly-like concessions) and as being linked with corruption and human rights or labor rights abuses. The sectors of concern include: (i) rare earth elements; (ii) base metals and gold; (iii) timber; and (iv) aviation services, components, and fuel. The activities of concern include: (i) potential diversion to military end uses and end users; (ii) financial and related services to state-owned banks; and (iii) abuses of workers’ labor rights. Below, we summarize the risks and mitigation recommendations provided by the Supplementary Advisory.
Sectors/Activities of Concern	Risks Identified by the Supplemental Advisory	Risk Mitigation Recommendations Provided by the Supplemental Advisory
Rare earth elements	Extraction and export of rare earth elements, including heavy rare earths, to neighbouring countries; mislabeling rare earth elements from Myanmar as originating from mines in other nearby countries	Businesses procuring rare earth elements and products from the Myanmar region should conduct enhanced due diligence to reduce the risks that such products (potentially marketed as Chinese-origin) originated in Myanmar. Businesses should request documentation of products’ origin.
- Forums
- ASX - By Stock
- IXR
- IXR media coverage
IXR media coverage, page-685
-
-
- There are more pages in this discussion • 301 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IXR (ASX) to my watchlist
|
|||||
Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $29.21M |
Open | High | Low | Value | Volume |
0.6¢ | 0.6¢ | 0.5¢ | $57.09K | 9.836M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
59 | 30639996 | 0.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.6¢ | 10544110 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
58 | 25639996 | 0.005 |
15 | 12037529 | 0.004 |
13 | 13918998 | 0.003 |
9 | 15900001 | 0.002 |
9 | 29871001 | 0.001 |
Price($) | Vol. | No. |
---|---|---|
0.006 | 10544110 | 9 |
0.007 | 7404939 | 19 |
0.008 | 9352449 | 17 |
0.009 | 5093178 | 12 |
0.010 | 6861482 | 14 |
Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
Featured News
IXR (ASX) Chart |