AP Impact: Myanmar sanctions list languishes

Author: Erika Kinetz & Matthew Pennington, Associated Press, Published on: 18 May 2013

The Obama administration didn't add anyone to the U.S. government's Myanmar sanctions list over 3½ years, despite recommendations from the U.S. Embassy in Yangon to blacklist hundreds of top officials and their business cronies, as well as military and private companies, according to an Associated Press examination...Human rights activists accuse the Obama administration of moving too fast to reward the reformist government of Thein Sein...[In] 2009, the U.S. Embassy...warned that "many of the real perpetrators of human rights abuses or those who provide significant support to the regime are not yet targeted."...Also missing: 33 of the then 38 subsidiaries of Union of Myanmar Economic Holdings...The U.S. Embassy said...that all the subsidiaries should be included, as well as its board of directors, managing directors and general managers. While UMEHL itself is blacklisted, there is little public information about its assets, making it tricky for investors to identify its affiliates. (refers to IHS, Norinco, Wanbao, Ivanhoe Mines, Max Myanmar Group)

Read the full post here

Related companies: NORINCO (China North Industries) Turquoise Hill Resources Union of Myanmar Economic Holdings (UMEHL) Wanbao Mining