H.R. 3190 — BRAVE Burma Act

This section revises the assessment and reporting requirement in subsection (e) to direct the President, not later than 180 days after enactment of the Act and annually thereafter for seven years, to determine whether specified Burmese persons meet criteria for sanctions under subsection (a) or E.O. 14014 (relating to blocking property with respect to the situation in Burma). The persons are (1) any Burmese state-owned enterprise described in subsection (c)(1) (i.e., the Myanma Oil and Gas Enterprise), (2) Myanma Economic Bank, and (3) any foreign person operating in the jet fuel sector of the Burmese economy (including through financial services or the direct or indirect importation, exportation, sale, supply, trade, storage, or transport of jet fuel in Burma); upon each determination, the President must submit an unclassified report (with a possible classified annex) to the appropriate congressional committees.

This section directs the Secretary of the Treasury to instruct the U.S. executive director at the International Monetary Fund (IMF) to use the U.S. voice and vote, during any IMF governance review assessing changes to the shareholding formula, to limit—as appropriate—any increase in Burma's shareholding if Burma is ruled by the State Administration Council. The President may waive this requirement upon certifying to the House Committee on Financial Services and the Senate Committee on Foreign Relations that doing so is important to the U.S. national interest, including a detailed explanation.