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Myanmar Economic Holdings Limited Because both the Ministry of Defence and Myanmar Economic Corporation play a large role in Burma’s economy, exporters doing business with Burma need to assess whether these entities play a role in any ongoing business activities (including as end user, purchaser, or intermediate consignee), as such activities could trigger a BIS licensing requirement. Additional restrictions In addition to the Entity List designations, BIS removed Burma’s eligibility for a number of license exceptions; changed Burma’s country group, resulting in a less favorable licensing policy; and extended the application of “military end user” and “military end use” (MEU) rules to Burma. Like the Entity List designations, these rules also became effective on 8 March 2021, but contain a savings clause of longer duration, authorizing any shipments of items that were en route aboard a carrier to a port of export or reexport no later than 7 April 2021, th ....
To embed, copy and paste the code into your website or blog: The U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued final rules amending the Export Administration Regulations (“EAR”) by implementing new export controls on Burma (Myanmar), and adding four entities linked to the recent coup to the Entity List. These final rules effective March 8, 2021 come less than a month after President Biden imposed sanctions blocking U.S. property and interests of Burmese military and government officials. Burma Removed from Country Group B with Significant Repercussions As of March 8, Burma is now in the more highly controlled Country Group D:1 (it was previously in Country Group B). Because of Burma’s move to Country Group D:1, transactions involving Burma are no longer eligible for the following License Exceptions under the EAR: ....
Executive Summary On March 2, 2021, the Biden Administration, in a coordinated announcement by the U.S. Departments of Treasury, State, and Commerce, tightened export restrictions against Russia and imposed sanctions and other measures on certain Russian entities and individuals allegedly involved in the poisoning and subsequent imprisonment of Alexei Navalny, a Russian opposition leader and anti-corruption crusader who recently returned to Russia after being treated for Novichok poisoning in Germany. Earlier in the day, the EU had announced the addition of two of the same individuals identified by the U.S. to its sanctions list, which marked the first time the EU had implemented sanctions under the Human Rights Sanctions Regime which it introduced in early December 2020. The EU had already sanctioned six other individuals and one entity in October 2020 (many of whom were listed in the U.S. action on March 2) over the poisoning using the framework of the EU’s restrictive m ....
Biden Administration Issues New Sanctions and Export Controls to Respond to Coup in Burma | Akin Gump Strauss Hauer & Feld 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 ....