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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.
Biden Administration Issues New Sanctions and Export Controls to Respond to Coup in Burma | Akin Gump Strauss Hauer & Feld LLP
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US Imposes Restrictions on Burma Following Military Coup | Skadden, Arps, Slate, Meagher & Flom LLP
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In response to the recent military coup in Myanmar (also known as Burma) against the democratically-elected government, on February 11, 2021 the Biden Administration issued an Executive Order on Blocking Property with Respect to the Situation in Burma (E.O.), which launched a new targeted sanctions regime. That same day, the Treasury Department’s Office of Foreign Assets Control (OFAC) designated former and current officials of Burma’s military or security forces and affiliated entities in the jade and gems sector as Specially Designated Nationals (SDNs). In addition, the Commerce Department’s Bureau of Industry and Security (BIS) announced a series of steps to tighten export controls on certain ministries, armed forces, and security services, and to limit availability of license exceptions. It has been indicated that these are initial steps, and that further sanctions and export control may follow.
U S Imposes Targeted Sanctions And Export Restrictions On Burma In Response To Military Coup | Husch Blackwell LLP
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