Targeted Myanmar tycoon may profit from U.S. sanctions changes

Myanmar businessman and owner of Asia World port terminal Steven Law speaks during terminal anniversary in Yangon, Myanmar, April 25, 2016. Asia World Company/Handout via REUTERS

May 19, 2016 - Reuters

YANGON (Reuters) - Standing among the party seeing off Myanmar’s new president as he left for Russia on Wednesday was leading businessman Htun Myint Naing, better known as Steven Law.

Only the day before, the United States had added six of his companies to the Treasury’s blacklist, a move that is unlikely to hamper the tycoon’s business empire significantly.

Full story here