Sheppard Mullin Richter & Hampton LLP (JD Supra Myanmar/Burma)

As we have reported in recent months, the United States consistently has been taking steps to expand diplomatic and commercial relations with Myanmar. And in recent weeks, that effort has continued.

On July 11, 2012, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) issued two general licenses lifting long-standing sanctions against Myanmar. The licenses were issued in response to historic reforms that have taken place in the country over the past year, the details of which we reported in this blog in February and May of this year.