[House Report 119-321]
[From the U.S. Government Publishing Office]


119th Congress }                                        { Rept. 119-321
                        HOUSE OF REPRESENTATIVES
 1st Session   }                                        {    Part 1

=======================================================================



 
            BRINGING REAL ACCOUNTABILITY VIA ENFORCEMENT IN
                                BURMA ACT

                            ----------------
                                
                October 3, 2025.--Ordered to be printed

                            ----------------
                                
    Mr. Hill of Arkansas, from the Committee on Financial Services, 
                        submitted the following


                              R E P O R T

                        [To accompany H.R. 3190]

    The Committee on Financial Services, to whom was referred 
the bill (H.R. 3190) to amend the Burma Unified through 
Rigorous Military Accountability Act of 2022 to extend the 
sunset, to require a determination with respect to the 
imposition of sanctions on certain persons of Burma, and for 
other purposes, having considered the same, reports favorably 
thereon with an amendment and recommends that the bill as 
amended do pass.

                                CONTENTS

                                                                   Page
Purpose and Summary..............................................     2
Background and Need for Legislation..............................     2
Committee Consideration..........................................     3
Related Hearings.................................................     4
Committee Votes..................................................     4
Committee Oversight Findings.....................................     7
Performance Goals and Objectives.................................     7
Committee Cost Estimate..........................................     7
New Budget Authority and CBO Cost Estimate.......................     7
Unfunded Mandates Statement......................................     7
Earmark Statement................................................     7
Federal Advisory Committee Act Statement.........................     8
Applicability to the Legislative Branch..........................     8
Duplication of Federal Programs..................................     8
Section-by-Section Analysis of the Legislation...................     8
Changes in Existing Law Made by the Bill, as Reported............     8

    The amendment is as follows:
    Strike all after the enacting clause and insert the 
following:

SECTION 1. SHORT TITLE.

  This Act may be cited as the ``Bringing Real Accountability Via 
Enforcement in Burma Act'' or the ``BRAVE Burma Act''

SEC. 2. MODIFICATIONS TO REPORTING REQUIREMENT.

  Section 5571(e) of the James M. Inhofe National Defense Authorization 
Act for Fiscal Year 2023 (22 U.S.C. 10222(e)) is amended to read as 
follows:
  ``(e) Assessment and Report on Sanctions With Respect to Burmese 
Persons.--
          ``(1) In general.--Not later than 180 days after the date of 
        the enactment of this Act, and annually thereafter for 7 years, 
        the President shall determine whether the following persons 
        meet the criteria for sanctions described under subsection (a) 
        or under Executive Order 14014 (86 Fed. Reg. 9429; relating to 
        blocking property with respect to the situation in Burma):
                  ``(A) Any Burmese state-owned enterprise described in 
                subsection (c)(1).
                  ``(B) Myanma Economic Bank.
                  ``(C) Any foreign person that the President 
                determines operates in the jet fuel sector of the 
                Burmese economy, including through activities such as 
                the provision of financial services or the importation, 
                exportation, reexportation, sale, supply, trade, 
                storage, or transport, directly or indirectly, of jet 
                fuel in Burma.
          ``(2) Report required.--Upon making the determination 
        required by paragraph (1), the President shall submit to the 
        appropriate congressional committees a report on the 
        assessment.
          ``(3) Form of report.--The report required by paragraph (2) 
        shall be submitted in unclassified form but may include a 
        classified annex.''.

SEC. 3. LIMITATION OF SHAREHOLDING BENEFITTING THE STATE ADMINISTRATION 
          COUNCIL OF BURMA.

  (a) In General.--The Secretary of the Treasury shall instruct the 
United States Executive Director at the International Monetary Fund to 
use the voice and vote of the United States, when assessing potential 
changes to any shareholding formula in connection with a governance 
review of the Fund, to limit, as appropriate, an increase to the 
shareholding of Burma if the country is subject to the rule of the 
State Administration Council.
  (b) Waiver.--The President of the United States may waive the 
application of subsection (a) upon certifying to the Committee on 
Financial Services of the House of Representatives and the Committee on 
Foreign Relations of the Senate that the waiver is important to the 
national interest of the United States, with a detailed explanation of 
the reasons therefor.

                          Purpose and Summary

    H.R. 3190, the BRAVE Burma Act, was introduced on May 5, 
2025 by Republican Representative Bill Huizenga (MI-04). H.R. 
3190 requires sanctions determinations with respect to certain 
Burmese state-owned enterprises, Myanma Economic Bank, and 
entities operating in the jet fuel sector of Burma. It also 
extends by two years the sunset for sanctions required under 
the BURMA Act of 2022. The bill also further requires the U.S. 
Executive Director at the International Monetary Fund (IMF) to 
limit shareholding increases for Burma under any changes to the 
IMF's shareholding formula, as long as Burma is subject to the 
rule of the State Administration Council. Finally, the 
legislation creates a Special Coordinator for Burmese Democracy 
at the Department of State to promote human rights and the 
restoration of civilian rule in Burma.

                  Background and Need for Legislation

    On February 1, 2021, the Tatmadaw, Myanmar's military, 
launched a coup where power was seized from a democratically 
elected government. The Tatmadaw's Senior General Min Aung 
Hlaing assumed power, imposed a state of emergency, suspended 
democratic institutions, and vested authority in the newly 
formed State Administration Council (SAC).\1\
---------------------------------------------------------------------------
    \1\Lindsay Maizland, Myanmar's Troubled History: Coups, Military 
Rule, and Ethnic Conflict, COUNCIL ON FOREIGN RELATIONS (Jan. 31, 
2022), https://www.cfr.org/backgrounder/myanmar-history-coup-military-
rule-ethnic-conflict-rohingya. [hereinafter ``Maizland, Myanmar's 
Troubled History''].
---------------------------------------------------------------------------
    The U.S. has maintained its position on condemning the 
junta's coup and supporting the restoration of democracy in 
Myanmar, while holding the military accountable for human 
rights abuses. Following the coup, the U.S. imposed targeted 
sanctions on key senior military officials, their families,\2\ 
and on military-owned enterprises such as Myanmar Economic 
Holdings Limited and Myanmar Economic Corporation Limited.\3\ 
Myanma Economic Bank is a state-owned institution that is 
``allegedly used by military junta to bypass existing U.S. 
restrictions, including proceeds from natural gas exports.''\4\
---------------------------------------------------------------------------
    \2\Press Release, U.S. Dep't of the Treasury, Treasury Sanctions 
Governing Body, Officials, and Family Members Connected to Burma's 
Military (May 17, 2021), https://home.treasury.gov/news/press-releases/
jy0180.
    \3\Press Release, U.S. Dep't of the Treasury, Treasury Sanction 
Military Holding Companies in Burma (Mar. 25, 2021), https://
home.treasury.gov/news/press-releases/jy0078.
    \4\Mega Valentina et al., Calls for U.S. Sanctions on Myanma 
Economic Bank (MEB), US-ASEAN BUSINESS COUNCIL (Nov. 26, 2024), https:/
/www.usasean.org/article/calls-us-
sanctions-myanma-economic-bank-meb.
---------------------------------------------------------------------------
    The jet fuel industry in Burma is a key target for 
sanctions because it directly enables the military junta's 
unlawful airstrikes against civilians, places of worship, 
villages, hospitals, and schools. Depleting Burma's ability to 
control and profit from aviation fuel imports and distribution 
will inhibit the junta's ability to sustain violence and war 
crimes using air power. China, Vietnam, and Singapore have 
persisted in defying sanctions by supplying jet fuel--directly 
or indirectly--that ultimately ends up in Myanmar.\5\ China has 
served as one of Myanmar's largest trading partners and closest 
diplomatic allies since the coup, given that the country 
borders China.\6\ China has ``funded infrastructure and energy 
projects throughout Myanmar as part of its Belt and Road 
Initiative . . . oil and natural gas flow through pipelines 
from Myanmar to China.''\7\ Russia has also emerged as a strong 
supporter of the junta.\8\
---------------------------------------------------------------------------
    \5\Myanmar: New Data Suggests Military Still Importing Fuel for 
Deadly Air Strikes Despite Sanctions, AMNESTY INTERNATIONAL (Jan. 31, 
2024), https://www.amnesty.org/en/latest/news/2024/01/myanmar-new-data-
suggests-military-still-importing-fuel-for-deadly-air-strikes-
despite-sanctions/.
    \6\Myanmar Trade, https://wits.worldbank.org/CountrySnapshot/en/MMR 
(last visited July 3, 2025).
    \7\Maizland, Myanmar's Troubled History.
    \8\Id.
---------------------------------------------------------------------------

                        Committee Consideration

                             119TH CONGRESS

    H.R. 3190, the BRAVE Burma Act, was introduced on May 5, 
2025 by Representative Huizenga with Representatives Betty 
McCollum (D-MN), Ann Wagner (R-MO), and Seth Moulton (D-MA) as 
original cosponsors. Representatives Michael Lawler (R-NY), 
Jerrold Nadler (D-NY), Young Kim (R-CA), Lloyd Doggett (D-TX), 
Jefferson Shreve (R-IN), Del. Eleanor Holmes Norton (D-DC), Gus 
Bilirakis (R-FL), Timothy Kennedy (D-NY), Gregory Meeks (D-NY), 
Claudia Tenney (R-NY), Sarah McBride (D-DE), and Brad Sherman 
(D-CA), Nikema Williams (D-GA), and Eugene Vindman (D-VA) were 
added subsequently as cosponsors. The bill was referred to the 
Committee on Foreign Affairs, and in addition to the Committees 
on the Judiciary, and Financial Services.
    The bill was attached to the April 1, 2025, hearing titled 
``Following the Money: Tools and Techniques to Combat Fraud.''
    On June 10, 2025, the Committee on Financial Services met 
in open session to consider, among others, H.R. 3190. The 
Committee ordered H.R. 3190, as amended, to be favorably 
reported to the House of Representatives.

                             118TH CONGRESS

    On June 27, 2024, Representative Huizenga introduced H.R. 
8863, the BRAVE Burma Act, with Representatives McCollum, 
Wagner, and Sherman as original cosponsors. Representatives 
Moulton, Lawler, Bilirakis, Holmes Norton, Tenney, Dina Titus 
(D-NV), Blake Moore (R-UT), Andre Carson (D-IN), Dean Phillips 
(D-MN), Joe Wilson (R-SC), Anna Eshoo (D-CA), and Kim were 
added subsequently as cosponsors. This bill is an earlier 
version of H.R. 3190. The bill was referred to the Committee on 
Foreign Affairs, and in addition to the Committees on the 
Judiciary, and Financial Services. The bill was attached to 
Subcommittee on National Security, Illicit Finance, & 
International Financial Institutions of the Committee on 
Financial Services hearings on June 27, 2024 titled, ``The Role 
of the Export-Import (Ex-Im) Bank of the United States Amid 
Intensifying Economic Competition with China'', and September 
18, 2024 titled, ``Protecting American's Savings: Examining the 
Economics of the Multi-Billion Dollar Romance Confidence Scam 
Industry.'' There was no further action on the bill in the 
118th Congress.

                            Related Hearings

    Pursuant to clause 3(c)(6) of rule XIII of the Rules of the 
House of Representatives, the following hearing was used to 
develop H.R. 3190:
    The Subcommittee on National Security, Illicit Finance, & 
International Financial Institutions of the Committee on 
Financial Services held a hearing on April 1, 2025, hearing 
titled ``Following the Money: Tools and Techniques to Combat 
Fraud.'' A discussion draft version of the bill was attached to 
the hearing. The following witnesses testified: Mr. Darrin 
McLaughlin, Executive Vice President-Chief BSA/AML & Sanctions 
Officer, Flagstar Bank on behalf of the American Bankers 
Association (ABA); Ms. Jacqueline Burns Koven, Head of Cyber 
Threat Intelligence, Chainalysis; Mr. Jeff Brabant, Vice 
President, Federal Government Relations, National Federation of 
Independent Business (NFIB); and Ms. Kathy Stokes, Director, 
Fraud Prevention Programs, AARP.

                            Committee Votes

    Clause 3(b) of rule XIII of the Rules of the House of 
Representatives requires the Committee Report to include record 
votes on the motion to report legislation and amendments 
thereto.
    On July 22, 2025, the Committee ordered H.R. 3190, as 
amended, to be reported favorably to the House by a recorded 
vote of 54 yeas and 0 nays. (Record Vote No. FC-179).
    Before the question to report was called, the Committee 
adopted an amendment in the nature of a substitute offered by 
Representative Huizenga, designated as Huizen_024, which made 
minor edits and technical changes. This amendment was agreed to 
by a voice vote.

[GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]

                      Committee Oversight Findings

    Pursuant to clause 3(c) of rule XIII of the Rules of the 
House of Representatives, the findings and recommendations of 
the Committee, based on oversight activities under clause 
2(b)(1) of rule X of the Rules of the House of Representatives 
are incorporated in the descriptive portions of this report.

                    Performance Goals and Objectives

    Pursuant to clause 3(c)(4) of rule XIII of the Rules of the 
House of Representatives, the goal of H.R. 3190 is to further 
the scope and extend the term of sanctions with respect to 
certain Burmese state-owned enterprises, Myanma Economic Bank, 
and entities operating in the jet fuel sector of Burma until 
Burma undertakes democratic reforms.

                        Committee Cost Estimate

    Clause 3(d)(1) of rule XIII of the Rules of the House of 
Representatives requires an estimate and a comparison of the 
costs that would be incurred in carrying out H.R. 3190. The 
Committee has requested but not received a cost estimate from 
the Director of the Congressional Budget Office. However, 
pursuant to clause 3(d)(1) of rule XIII of the Rules of the 
House of Representatives, the Committee will adopt as its own 
the cost estimate by the Director of the Congressional Budget 
Office once it has been prepared.

               New Budget Authority and CBO Cost Estimate

    With respect to the requirements of clause 3(c)(2) of rule 
XIII of the Rules of the House of Representatives and section 
308(a) of the Congressional Budget Act of 1974 and with respect 
to requirements of clause 3(c)(3) of rule XIII of the Rules of 
the House of Representatives and section 402 of the 
Congressional Budget Act of 1974, the Committee will adopt as 
its own the cost estimate for the bill prepared by the Director 
of the Congressional Budget Office. However, a cost estimate 
was not made available to the Committee in time for the filing 
of this report. The Chairman of the Committee shall cause such 
estimate to be printed in the Congressional Record upon its 
receipt by the Committee.

                      Unfunded Mandates Statement

    The Committee has requested but not received from the 
Director of the Congressional Budget Office an estimate of the 
Federal mandates pursuant to section 423 of the Unfunded 
Mandates Reform Act. The Chairman of the Committee shall cause 
such estimate to be printed in the Congressional Record upon 
its receipt by the Committee.

                           Earmark Statement

    In compliance with clause 9 of rule XXI of the Rules of the 
House of Representatives, this bill, as reported, contains no 
congressional earmarks, limited tax benefits, or limited tariff 
benefits as defined in clause 9(e), 9(f), or 9(g) of rule XXI.

                Federal Advisory Committee Act Statement

    No advisory committees within the meaning of section 5(b) 
of the Federal Advisory Committee Act were created by this 
legislation.

                Applicability to the Legislative Branch

    The Committee finds that the legislation does not relate to 
the terms and conditions of employment or access to public 
services or accommodations within the meaning of section 
102(b)(3) of the Congressional Accountability Act.

                    Duplication of Federal Programs

    Pursuant to clause 3(c)(5) of rule XIII of the Rules of the 
House of Representatives, the Committee states that no 
provision of the bill establishes or reauthorizes a program of 
the Federal Government known to be duplicative of another 
Federal program, including any program that was included in a 
report to Congress pursuant to section 21 of the Public Law 
111-139 or the most recent Catalog of Federal Domestic 
Assistance.

             Section-by-Section Analysis of the Legislation

Section 1. Short title

    Section 1 provides the short title is the ``Bringing Real 
Accountability Via Enforcement in Burma Act'' or the ``BRAVE 
Burma Act.''

Section 2. Extension of sunset

    Section 2 extends by two years the sunset of the Burma 
Unified through Rigorous Military Accountability Act of 2022.

Section 3. Modification to reporting requirements

    Section 3 requires the President to determine whether 
Myanma Oil and Gas Enterprise, Myanma Economic Bank, or foreign 
persons operating in the Burmese jet fuel sector meet the 
criteria for sanctions under Executive Order 14014.

Section 4. Limitation of shareholding benefitting the State 
        Administration Council of Burma

    Section 4 requires the Secretary of the Treasury to 
instruct the United States Executive Director at the 
International Monetary Fund to limit Burma's shareholding at 
the Fund while the government is under the rule of the SAC.

Section 5. United States Special Envoy for Burma

    Section 5 requires the President to appoint a Special Envoy 
for Burma to coordinate all aspects of United States policy 
with respect to Burma.

         Changes in Existing Law Made by the Bill, as Reported

  In compliance with clause 3(e) of rule XIII of the Rules of 
the House of Representatives, changes in existing law made by 
the bill, as reported, are shown as follows (existing law 
proposed to be omitted is enclosed in black brackets, new 
matter is printed in italics, and existing law in which no 
change is proposed is shown in roman):

                   JAMES M. INHOFE NATIONAL DEFENSE
                AUTHORIZATION ACT FOR FISCAL YEAR 2023

           *       *       *       *       *       *       *

             DIVISION E--NON-DEPARTMENT OF DEFENSE MATTERS

           *       *       *       *       *       *       *

                   TITLE LV--FOREIGN AFFAIRS MATTERS

           *       *       *       *       *       *       *

                     Subtitle E--Burma Act of 2022

           *       *       *       *       *       *       *

                     PART 2--SANCTIONS AND POLICY
                  COORDINATION WITH RESPECT TO BURMA
 
           *       *       *       *       *       *       *


SEC. 5571. IMPOSITION OF SANCTIONS WITH RESPECT TO HUMAN RIGHTS ABUSES 
            AND PERPETRATION OF A COUP IN BURMA.

  (a) Mandatory Sanctions.--Not later than 180 days after the 
date of the enactment of this Act, the President shall impose 
the sanctions described in subsection (d) with respect to any 
foreign person that the President determines--
          (1) is a senior official of--
                  (A) the Burmese military or security forces 
                of Burma;
                  (B) the State Administration Council, the 
                military-appointed cabinet at the level of 
                Deputy Minister or higher, or a military-
                appointed minister of a Burmese state or 
                region; or
                  (C) an entity that primarily operates in the 
                defense sector of the Burmese economy; or
          (2) is a Burmese state-owned commercial enterprise 
        (other than an entity described in subsections (c)(1) 
        and (c)(2)) that--
                  (A) is operating in the industrial or 
                extractive sectors; and
                  (B) significantly financially benefits the 
                Burmese military.
  (b) Additional Measure Relating to Facilitation of 
Transactions.--The Secretary of the Treasury may, in 
consultation with the Secretary of State, prohibit or impose 
strict conditions on the opening or maintaining in the United 
States of a correspondent account or payable-through account by 
a foreign financial institution that the President determines 
has, on or after the date of the enactment of this Act, 
knowingly conducted or facilitated a significant transaction or 
transactions on behalf of a foreign person subject to sanctions 
under this section imposed pursuant to subsection (a).
  (c) Additional Sanctions.--The President may impose the 
sanctions described in subsection (d) with respect to--
          (1) the Myanma Oil and Gas Enterprise;
          (2) any Burmese state-owned enterprise that--
                  (A) is not operating in the industrial or 
                extractive sectors; and
                  (B) significantly financially benefits the 
                Burmese military;
          (3) a spouse or adult child of any person described 
        in subsection (a)(1);
          (4) any foreign person that, leading up to, during, 
        and since the February 1, 2021, coup d'etat in Burma, 
        is responsible for or has directly and knowingly 
        engaged in--
                  (A) actions or policies that significantly 
                undermine democratic processes or institutions 
                in Burma;
                  (B) actions or policies that significantly 
                threaten the peace, security, or stability of 
                Burma;
                  (C) actions or policies by a Burmese person 
                that--
                          (i) significantly prohibit, limit, or 
                        penalize the exercise of freedom of 
                        expression or assembly by people in 
                        Burma; or
                          (ii) limit access to print, online, 
                        or broadcast media in Burma; or
                  (D) the orchestration of arbitrary detention 
                or torture in Burma or other serious human 
                rights abuses in Burma; or
          (5) any Burmese entity that provides materiel to the 
        Burmese military.
  (d) Sanctions Described.--The sanctions described in this 
subsection are the following:
          (1) Property blocking.--The President may exercise 
        all powers granted to the President by the 
        International Emergency Economic Powers Act (50 U.S.C. 
        1701 et seq.) to the extent necessary to block and 
        prohibit all transactions in all property and interests 
        in property of the foreign person if such property and 
        interests in property are in the United States, come 
        within the United States, or are or come within the 
        possession or control of a United States person.
          (2) Foreign exchange.--The President may, pursuant to 
        such regulations as the President may prescribe, 
        prohibit any transactions in foreign exchange that are 
        subject to the jurisdiction of the United States and in 
        which the foreign person has any interest.
          (3) Visas, admission, or parole.--
                  (A) In general.--An alien who is described in 
                subsection (a) or (c) is--
                          (i) inadmissible to the United 
                        States;
                          (ii) ineligible for a visa or other 
                        documentation to enter the United 
                        States; and
                          (iii) otherwise ineligible to be 
                        admitted or paroled into the United 
                        States or to receive any other benefit 
                        under the Immigration and Nationality 
                        Act (8 U.S.C. 1101 et seq.).
                  (B) Current visas revoked.--
                          (i) In general.--The issuing consular 
                        officer, the Secretary of State, or the 
                        Secretary of Homeland Security (or a 
                        designee of one of such Secretaries) 
                        shall, in accordance with section 
                        221(i) of the Immigration and 
                        Nationality Act (8 U.S.C. 1201(i)), 
                        revoke any visa or other entry 
                        documentation issued to an alien 
                        described in subparagraph (A) 
                        regardless of when the visa or other 
                        entry documentation is issued.
                          (ii) Effect of revocation.--A 
                        revocation under clause (i)--
                                  (I) shall take effect 
                                immediately; and
                                  (II) shall automatically 
                                cancel any other valid visa or 
                                entry documentation that is in 
                                the alien's possession.
  [(e) Assessment and Report on Sanctions With Respect to 
Burmese State-owned Enterprise Operating in the Energy 
Sector.--
          [(1) In general.--Not later than 180 days after the 
        date of the enactment of this Act, the President shall 
        conduct an assessment with respect to the Burmese 
        state-owned enterprise described in subsection (c)(1), 
        including relevant factors pertaining to the possible 
        application of sanctions on such enterprise.
          [(2) Report required.--Upon making the determination 
        required by paragraph (1), the President shall submit 
        to the appropriate congressional committees a report on 
        the assessment.
          [(3) Form of report.--The report required by 
        paragraph (2) shall be submitted in unclassified form 
        but may include a classified annex.]
  (e) Assessment and Report on Sanctions With Respect to 
Burmese Persons.--
          (1) In general.--Not later than 180 days after the 
        date of the enactment of this Act, and annually 
        thereafter for 7 years, the President shall determine 
        whether the following persons meet the criteria for 
        sanctions described under subsection (a) or under 
        Executive Order 14014 (86 Fed. Reg. 9429; relating to 
        blocking property with respect to the situation in 
        Burma):
                  (A) Any Burmese state-owned enterprise 
                described in subsection (c)(1).
                  (B) Myanma Economic Bank.
                  (C) Any foreign person that the President 
                determines operates in the jet fuel sector of 
                the Burmese economy, including through 
                activities such as the provision of financial 
                services or the importation, exportation, 
                reexportation, sale, supply, trade, storage, or 
                transport, directly or indirectly, of jet fuel 
                in Burma.
          (2) Report required.--Upon making the determination 
        required by paragraph (1), the President shall submit 
        to the appropriate congressional committees a report on 
        the assessment.
          (3) Form of report.--The report required by paragraph 
        (2) shall be submitted in unclassified form but may 
        include a classified annex.
  (f) Exceptions.--
          (1) Exception for intelligence, law enforcement, and 
        national security activities.--Sanctions under this 
        section shall not apply to any authorized intelligence, 
        law enforcement, or national security activities of the 
        United States.
          (2) Exception to comply with international 
        obligations.--Sanctions under subsection (d)(3) shall 
        not apply with respect to the admission of an alien if 
        admitting or paroling the alien into the United States 
        is necessary to permit the United States to comply with 
        the Agreement regarding the Headquarters of the United 
        Nations, signed at Lake Success June 26, 1947, and 
        entered into force November 21, 1947, between the 
        United Nations and the United States, or other 
        applicable international obligations.
          (3) Exception relating to the provision of 
        humanitarian assistance.--Sanctions under this section 
        may not be imposed with respect to transactions or the 
        facilitation of transactions for--
                  (A) the sale of agricultural commodities, 
                food, medicine, or medical devices to Burma;
                  (B) the provision of humanitarian assistance 
                to the people of Burma;
                  (C) financial transactions relating to 
                humanitarian assistance or for humanitarian 
                purposes in Burma; or
                  (D) transporting goods or services that are 
                necessary to carry out operations relating to 
                humanitarian assistance or humanitarian 
                purposes in Burma.
          (4) Exception relating to wind-down of projects.--
        Sanctions under this section shall not be imposed with 
        respect to transactions or the facilitation of 
        transactions related to the disposition of investments 
        pursuant to--
                  (A) agreements entered into between United 
                States persons and the Government of Burma 
                prior to May 21, 1997;
                  (B) the exercise of rights pursuant to such 
                agreements; or
                  (C) transactions related to the subsequent 
                operation of the assets encompassed by such 
                disposed investments.
  (g) Waiver.--The President may, on a case-by-case basis waive 
the application of sanctions or restrictions imposed with 
respect to a foreign person under this section if the President 
certifies to the appropriate congressional committees at the 
time such waiver is to take effect that the waiver is in the 
national interest of the United States.
  (h) Implementation; Penalties.--
          (1) Implementation.--The President may exercise all 
        authorities provided to the President under sections 
        203 and 205 of the International Emergency Economic 
        Powers Act (50 U.S.C. 1702 and 1704) to carry out this 
        section.
          (2) Penalties.--The penalties provided for in 
        subsections (b) and (c) of section 206 of the 
        International Emergency Economic Powers Act (50 U.S.C. 
        1705) shall apply to a person that violates, attempts 
        to violate, conspires to violate, or causes a violation 
        of this section or any regulations promulgated under 
        this section to the same extent that such penalties 
        apply to a person that commits an unlawful act 
        described in section 206(a) of that Act.
  (i) Report.--Not later than 90 days after the date of the 
enactment of this Act and annually thereafter for 8 years, the 
Secretary of State, in consultation with the Secretary of the 
Treasury, shall submit to the appropriate congressional 
committees a classified report that--
          (1) describes the primary sources of income to which 
        the Burmese military has access and that the United 
        States has been unable to reach using sanctions 
        authorities; and
          (2) assesses the impact of the sanctions imposed 
        pursuant to the authorities under this section on the 
        Burmese people and the Burmese military.

           *       *       *       *       *       *       *


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