Timber trading in Myanmar has come to a standstill after 2 May, as the country struggles to recover from the aftermath of Cyclone Nargis. In Yangon, many sunken vessels remain in the harbor and shipping is expected to be impacted for a number of weeks. The BBC reported that aid had been able to reach less than a third at risk and estimated that over 32,000 people had lost their lives as a result of the storm.
At the same time, the Associated Press reported that the U.S. government slapped further sanctions on Myanmar companies, including the Myanmar Timber Enterprise. President Bush announced that a new executive order was issued to allow the US to freeze assets of state-owned businesses that would supply funding to Myanmar’s military junta. The order, issued by the US Treasury Department’s Office of Foreign Assets control said it would freeze any assets found in the US belonging to the Myanmar Gem Enterprise, the Myanmar Pearl Enterprise and the Myanmar Timber Enterprise.
On 13 May 2008, the details of the legislative directive forming Peru’s Ministry of Environment were announced. The directive indicates the Ministry has the primary objective of: conserving the environment; ensuring the sustainable, responsible, rational and ethical use of natural resources and a sustainable environment that contributes to the essential social, economic and cultural development of human beings; and securing the right of present and future generations to enjoy a stable environment in which to develop their lives. The National Institute for National Resources (INRENA) and the National Commission of the Environment (CONAM) will be incorporated into the Ministry of Environment and the National System for State Protected Natural Areas (SINANPE). A fund for protected areas will be created as a result of the directive, and a governing body will be established to provide advice on the protected areas scheme.