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US Imposes Restrictions on Burma Following Military Coup | Skadden, Arps, Slate, Meagher & Flom LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
[co-author: Nicole Hager] On February 11, 2021, the Biden Administration created a new sanctions regime and imposed additional export restrictions in response to the recent military coup in Burma. While the new measures do not broadly prohibit doing business with Burma, they do forbid U.S. companies and individuals from engaging in transactions with several current and former military officials, as well as certain Burmese companies, and impose more stringent export controls on Burma’s Ministry of Defense, Ministry of Home Affairs, armed forces, and security services. Following the issuance of an Executive Order (EO) in response to the military coup that took place in Burma on February 1, 2021, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned 10 individuals and three entities responsible for the coup. The sanctioned persons include six members of the National Defense and Security Council who were directly involved in the coup. OFAC also ....