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Exploring measures to prevent illicit arms trade to Myanmar. Learn about evasion techniques, global sanctions, and recommendations for maritime companies and financial institutions. Trade compliance in the aftermath of the Myanmar coup.
In February 2021, Senior General Min Aung Hlaing and other military leaders staged a coup in Myanmar. The Junta, officially called the State Administration Council, detained and charged leaders of the opposition. As a result, massive protests erupted nationwide in the southeast Asia country.
Following the coup, the global community imposed several resolutions and sanctions to prevent responsible parties, or those connected to the military, from accessing the financial system and trading certain goods, such as weapons. This article focuses on the trade of weapons to Myanmar, specifically the actions taken to prevent this activity, current evasion techniques and what firms can do to thwart this.
In the first of his series of DCW articles on major issues surrounding potential revision of UCP, ICC Banking Commission Senior Technical Advisor Dave Meynell examines the concept of negotiation.
Letter of credit cases can reveal a great deal about how the industry's practice rules and standards are viewed and interpreted by the courts.
When issuing banks insert complex reimbursement terms and self-serving conditions into their credits, it distorts the purpose of the product, causes problems for confirming banks, and drives exporters away from using LCs.
DCW Editorial Note: This previously unpublished material reflects the thinking and writing of Professor James E. Byrne over the period
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