US Government sanctions Burmese military conglomerates, issues wind-down and humanitarian General Licenses and tightens export controls for Burma (Myanmar)

The US Government has imposed a series of sanctions against Myanmar Economic Corporation Limited (MEC) and Myanma Economic Holdings Public Company Limited (a.k.a. Myanmar Economic Holding Limited) (MEHL), two military-affiliated conglomerates, in response to the February military coup in Burma (Myanmar). The combined restrictions are likely to have a significant impact on business activities in Burma as these conglomerates have substantial interests and joint ventures in several sectors of the Burmese economy, including trading, natural resources, tourism, alcohol, cigarettes, and consumer goods. In addition, the US Government has significantly tightened export controls for Burma.