The United States plans to renew the bulk of its sanctions against Myanmar when they expire next week, but will make some changes aimed at boosting investment and trade, according to several senior U.S. officials and congressional aides.
An announcement on extending much of the International Emergency Economic Powers Act (IEEPA) could come as soon as Tuesday ahead of a visit to the Southeast Asian nation by Secretary of State John Kerry on May 22, officials said.
The U.S. Treasury Department has significantly eased sanctions against Myanmar by issuing general licenses that give companies and investors exemptions to sanctions targeting more than 100 individuals and businesses, including some of Myanmar's biggest business players.