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On February 1, 2021, the Burmese military announced that it had seized control of the country from the country s democratically elected government.
1 In response to the coup, the US has so far designated 12 individuals and three entities and imposed restrictions on certain exports. Allied governments, including the European Union, the United Kingdom and Canada, either have promulgated their own sanctions or are considering doing so. The US has signaled that it is preparing additional measures targeting the individuals responsible for the coup and ensuing violence. Given the Burmese military s pervasive presence in Burma s economy, companies are advised, as a matter of priority, to assess their commercial ties with Burma.
White House Says US Preparing More Measures Against Myanmar
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US-UK-EU Trade News, Deals & Sanctions Updates
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PRESS RELEASE
WASHINGTON, DC
Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two individuals connected to the military apparatus responsible for the coup in Burma. Treasury took these actions in response to the Burmese security forces’ killing of peaceful protestors, and Treasury imposed the sanctions under Executive Order 14014, the new Burma-focused sanctions authority President Biden issued on February 11. The Treasury Department stands with the people of Burma as they work to secure freedom and democracy and remains committed to promoting accountability for those responsible for the coup and ongoing violence. The military must reverse its actions and urgently restore the democratically elected government in Burma, or the Treasury Department will not hesitate to take further action.