Yangon stock exchange risks opening under US sanctions
Myanmar’s first modern stock exchange risks falling under sanctions by the US Treasury when it eventually launches this year.
The Yangon Stock Exchange is not designated specifically by the Department of Treasury’s Office of Foreign Assets Control.
However US officials have clarified that under US law it would be automatically sanctioned, as it is 51 percent owned by Myanmar Economic Bank, a state entity under US sanctions. Entities owned 50pc or more by one or more blocked persons on the US Specially Designated National List are subject to US sanctions, said a US embassy spokesperson.
