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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
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.