During the first quarter of 2024, there were significant developments in the U.S. sanctions framework. This report summarizes the key developments and provides links to the relevant sources....more
The Department of Homeland Security (DHS) has published instructions on how to apply for the extended and redesignated Temporary Protected Status (TPS) for Burma (Myanmar). On March 25, 2024, DHS extended and redesignated...more
On October 31, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published Directive 1 under Executive Order 14014 (the “Directive”) that will, effective as of December 15, 2023, prohibit...more
On June 21, pursuant to Executive Order 14014, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against Burma’s Ministry of Defense and two regime-controlled financial institutions....more
On March 24, pursuant to Executive Order 14014, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against two individuals and six entities connected to Burma’s military regime. ...more
The Bureau of Industry and Security (BIS) of the U.S. Department of Commerce announced this past week that it was adding more than three dozen companies to the Entity List effective immediately. This is the second round of...more
2022 was an unprecedented year for U.S. sanctions and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). While the sweeping new U.S. sanctions imposed against Russia and Belarus in unparalleled...more
On January 31, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 14014 against six individuals and three entities connected to Burma’s military regime. ...more
After months of negotiations, Congress revealed the compromise version of the National Defense Authorization Act for Fiscal Year 2023 (NDAA) on December 6, 2022. The bill, viewed as a “must-pass” piece of legislation because...more
On October 21, 2022, the global Financial Action Task Force (“FATF”) added the nation of Myanmar to its so-called “blacklist” of jurisdictions with “strategic deficiencies” in their legal and regulatory regimes that permit...more
The Department of Homeland Security (DHS) has extended Temporary Protected Status (TPS) for Burma for an additional 18 months from November 26, 2022, through May 25, 2024, due to the extraordinary and temporary conditions in...more
The EU takes a major step to expand sanctions on economically important companies and industrial groups, with twenty-two (22) individuals and four (4) entities now added to restrictive measures. Those designated include...more
This is the fifth post in this year’s series examining important trends in white collar law and investigations. Our previous post discussed trends in State AG enforcement. Up next: SEC Enforcement in 2022: A Look Ahead. ...more
On January 26, 2022, the U.S. Department of the Treasury issued an advisory for businesses and individuals doing business in Burma. Specifically, the business advisory cautions business and individuals to be aware of exposure...more
2021 was a year of transition in the United States and for the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). OFAC’s year, while busy, was far different from 2020, as the Biden Administration’s...more
1. Treasury Mandates Reporting of Foreign Securities Holdings of $200M or More- All U.S. persons (custodians and end investors) who manage $200 million or more in foreign securities for themselves or others must file a...more
In addition to compliance considerations under US sanctions associated with activities of U.S. persons, companies should also ensure that their compliance programs take into account the expansion under U.S. export controls of...more
Effective July 2, 2021, as part of the U.S. Government’s ongoing response to the military coup in Burma (Myanmar), the Department of Commerce’s Bureau of Industry and Security (“BIS”) added four entities to the Entity List...more
Effective June 1, 2021, the U.S. Department of the Treasury's Office of Foreign Assets Control (“OFAC”) published new Burmese Sanctions Regulations (“BSR”) that implement President Biden’s February 10, 2021, Executive Order...more
The Department of Homeland Security has announced that it will be extending Haitian Temporary Protected Status (TPS) for 18 months, until November 2022. It also has officially set out the application procedures for Burmese...more
U.S., UK and EU authorities continue to expand sanctions targeting the Tatmadaw, Myanmar’s armed forces, following the February 17, 2021, military coup in Myanmar (also known as Burma). Over the past month, the United States...more
Recently, on April 9, 2021, the US Commerce Department’s Bureau of Industry and Security (BIS) adopted new restrictions targeting Burma by applying Export Administration Regulations’(EAR’s) military-intelligence end-use and...more
On March 25, 2021, the United States imposed sanctions on Myanma Economic Holdings Public Company Limited ("MEHL") and Myanmar Economic Corporation Limited ("MEC"), Burma's two largest military conglomerates. On the same day,...more
In Husch Blackwell’s March 2021 Trade Law Newsletter, you’ll learn about the following updates in international trade and supply chain law: •USTR announced the continuation of certain Section 301 digital services taxes...more
Following the military coup in Myanmar on February 1, 2021, the U.S., UK and EU have imposed a range of sanctions targeting individuals and entities affiliated with the Burmese military....more