2019/136) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds and economic resources of certain persons, entities or bodies On February 10, 2021, President Biden issued Executive Order 14014 “Blocking Property with Respect to the Situation in Burma” (“EO 14014”), which provides for the imposition of sanctions on certain Burmese parties in response to the Burmese military’s coup against the democratically elected civilian government in … Specifically, as the Office of Foreign Assets Control or OFAC is part of the Department of Treasury and the Executive branch, Obama’s pledge to no longer enforce and to lift the sanctions regarding Myanmar means that OFAC was unlikely to be pursuing Burma related actions, even before OFAC officially repealed the regulations found in 31 CFR Section 537. As a result, the economic and financial sanctions administered by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) are no … Other authorities are public laws (statutes) passed by The Congress. Other authorities are public laws (statutes) passed by The Congress. Below OFAC has issued guidance and statements on specific licensing policies as they relate to Burma-Related Sanctions. Gemstones are a key economic resource for the Burmese military regime that is violently repressing pro-democracy protests in the country and that is responsible for the ongoing lethal attacks against the people of Burma… WASHINGTON – Today, President Obama signed an Executive Order terminating the national emergency with respect to Burma, revoking the Burma sanctions Executive Orders, and waiving other statutory blocking and financial sanctions on Burma. These interpretations of OFAC policy are sometimes published in response to a public request for guidance or may be released proactively by OFAC in order to address a complex topic. On February 11, 2021, the White House issued an Executive Order (EO) authorizing sanctions in response to the February 1, 2021, military coup in Myanmar (Burma). WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Myanma Gems Enterprise (MGE), a Burmese state-owned entity that is responsible for all gemstone activities in Burma. The U.S. Treasury Department issued a new round of sanctions against people involved in Myanmar’s February coup, including the governor of the nation’s central bank, Than Nyein. What are the country-based sanctions for Burma and are they still in effect? On April 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) designated two state-owned enterprises, Myanma Timber Enterprise (“MTE”) and … On February 11, pursuant to that executive order, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) designated certain individuals and entities controlled by the Burmese military deemed … Treasury Sanctions Military Holding Companies in Burma March 25, 2021 WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated two military holding companies, Myanma Economic Holdings Public Company Limited (MEHL) and Myanmar Economic Corporation Limited (MEC). §§ 1701-1706, National Emergencies Act (NEA), 50 U.S.C. On May 17, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 14014 against 16 individuals connected to Burma’s military regime and one entity, the State Administration Council (SAC), which is … On May 18, 2016, the U.S. government took further steps to ease its sanctions against Burma (Myanmar), although stopping short of totally lifting the sanctions. Treasury Sanctions Governing Body, Officials, and Family Members Connected to Burma’s Military May 17, 2021 WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 16 individuals and one entity connected to Burma’s military regime. 14014 for being foreign persons who are or were leaders or officials of the Government of Burma on or after February 2, 2021: The following nine individuals, who are members of the military regime, are designated pursuant to E.O.14014 for being foreign persons who are or were leaders or officials of the Government of Burma on or after February 2, 2021: In addition to the individuals identified above, the following three individuals are designated pursuant to E.O. 14014 for being a spouse or adult child of a person whose property and interests in property are blocked. @TreasuryDepSec received a to… https://t.co/qbY3gH0uwS, Form 941, employer's quarterly federal tax return, Treasury Distributes $6.1 billion to Assist Renters and Landlords Through Emergency Rental Assistance Program, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. OFAC’s Burma sanctions are authorized under several Executive Orders and legislative acts. Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Treaties and Tax Information Exchange Agreements (TIEAs), Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal Benefit Payments - GoDirect, General Property, Vehicles, Vessels & Aircraft, WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 16 individuals and one entity connected to Burma’s military regime. The U.S. sanctions list included four members of the SAC and nine other officials the Treasury said were key members of Myanmar's military government, including the … In Burma, most of the country-based sanctions have been removed. Finally, OFAC added two military holding companies utilized by the Burmese military to control significant segments of the Burmese economy, including trading, natural resources, alcohol, cigarettes and consumer goods on March 25, 2021 and in April 2021 added three enterprises from the gem, timber and pearl industry considered to be key economic resources in Burma. Burma sanctions on state timber and pearl enterprises, and OFAC says buh-bye to some Kingpins By eric9to5 on April 21, 2021 • ( Leave a comment). U.S. imposes new sanctions and export controls on Burma 22 February 2021 On 11 February 2021, President Biden issued Executive Order 14014 "Blocking Property with Respect to Burma" (EO), which authorizes the imposition of sanctions on specific persons or entities in Burma, including Burmese military and Government of Burma entities. The following entities have been added to OFAC's SDN List: MYANMA ECONOMIC HOLDINGS PUBLIC COMPANY LIMITED (a.k.a. As a part of today’s action, the State Administrative Council (SAC) is designated for being a political subdivision, agency, or instrumentality of the Government of Burma.  The SAC, which is the official name of the military government in Burma, was formed by Burma’s military on February 2, 2021.  It is largely made up of military officials and led by Commander-in-Chief Senior General Min Aung Hlaing, whom Treasury designated on February 11, 2021 pursuant to E.O.

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