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
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, in its effort to intensify international pressure on Min Aung Hlaing’s military government, the US placed sanctions, pursuant to Executive Order 14014, on two holding companies, Myanma Economic Holdings...more
Building on the export controls and sanctions measures already imposed by the U.S. government in February in response to the military coup in Burma, the Bureau of Industry and Security (“BIS”) imposed additional export...more
OFAC had a big year in 2019 and 2020 looks like a continuation. In the last week, OFAC issued two enforcement actions — Eagle Shipping and Park Strategies....more
With Brexit looming, the UK's autonomous sanctions policy is slowly taking shape. This month saw the publication of regulations setting out the post-Brexit UK sanctions regimes for Iran, Burma and Venezuela, which will come...more
With the rise of OFAC Sanctions enforcement and compliance issues, companies have to devote significant resources to following changes in OFAC Sanctions. Over the last few years, the US government has significantly altered...more
In May, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the Burmese Sanction Regulations, and the U.S. Department of State (State) proposed revisions to the Burma Responsible...more
In response to Burma’s peaceful and competitive elections in November 2015, on May 18, 2016, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) further eased U.S. sanctions against Burma (Myanmar). These...more
On May 17, 2016, the Office of Foreign Assets Control ("OFAC") amended the Burmese Sanctions Regulations to broaden the scope of permissible trade with Burma. The Burma regulations, which have been amended piecemeal rather...more
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) eased certain sanctions against Burma/Myanmar on May 17, 2016, including by allowing most transactions involving Burmese financial institutions....more
Overview of US and EU Trade Sanctions - Following is a summary of the current US and EU sanctions that restrict trade with and/or investment in certain countries, “Specially Designated Nationals” (SDNs) and “Blocked...more
A new general license issued by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) will make it easier to transport goods between the United States and Burma....more