Ofac list myanmar

Christian Feldmann

ofac list myanmar And new people and companies are added to the OFAC watch lists, requiring further research to make sure the OFAC 50 percent rule is not breached . On June 16, the US Department of the Treasury's Office of Foreign Assets Control (“OFAC”) announced that it removed the Burmese Sanctions . A U. A copy of E. Notable sanctions programs against Myanmar are enforced by the US, the EU, the UK, Australia, and Canada and include measures such as arms embargoes, trade embargoes, asset freezes, travel bans, and investment bans. Mar 25, 2021 · March 25, 2021. org Summary. , Ltd. US sanctions 22 people and lists 4 entities in connection with Myanmar coup. Jul 07, 2016 · Myanmar (Burma) Sanctions: On May 17, 2016, OFAC amended the Burmese Sanctions Regulations and updated the Specially Designated Nationals and Blocked Persons (SDN) List. Myanma Gems Enterprise—also known as Myanmar Gems Corp. 1 coup, more than 60 civilians have been killed by the police and army during crackdowns against peaceful demonstrations protesting the military takeover. Myanmar Economic Holdings Public Company Limited (“MEHL”) and Myanmar Economic Corporation Limited (“MEC”) both dominate large sectors of the Burmese . Collectively, such individuals and companies are called . Apr 08, 2021 · OFAC adds Myanma Gems Enterprise to Myanmar sanctions By eric9to5 on April 8, 2021 • ( 1 Comment). All assets and interests in assets of the sanctioned persons and .  . The two designated entities are Myanma Economic Holdings Public Company Limited (a. as well as some officials of the new junta to the SDN list. R. Myanmar Economic Holding Limited) ( MEHL ) and Myanmar Economic Corporation Limited ( MEC ). ( Here ) The new regulations were intended to support trade with Burma; facilitate the movement of goods within Burma; allow certain transactions by US individuals in Burma . 2018 WASHINGTON – Today, the U. sanctions on Burma in response to the recent military coup in that country. 17 Authorizes New Investment in Burma. On June 16, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced that it removed the Burmese Sanctions Regulations (“BSR”) from the Code of Federal Regulations. Sanctions List Search has a slider-bar that may be used to set a threshold (i . The E. May 17, 2021 · On 17 May 2021, the U. of Foreign Assets Control (OFAC) said the 15 relatives mentioned above are . Jun 19, 2017 · OFAC Removes Burmese Sanctions Regulations. Jul 02, 2021 · OFAC designated all these individuals pursuant to Executive Order (E. On September 14th, President Obama pledged to lift all of the economic sanctions against Myanmar or Burma. Since then however, the Office of Foreign Assets Control (OFAC) has sanctioned four Burmese military . RESTRICTIONS MYANMAR - 2004/423/CFSP, EC 817/2006 - EU-MY. Jun 17, 2021 · According to OFAC, the company chartered a vessel to a Singapore-owned company transporting sand from Myanmar to Singapore. Feb 01, 2021 · The EO defines the "Government of Burma" to mean the Government of Burma, any political subdivision, agency, or instrumentality thereof, including the Central Bank of Myanmar, and any person owned or controlled by, or acting for or on behalf of, the Government of Burma. OFAC’s Burma sanctions are authorized under several Executive Orders and legislative acts. May 17, 2021 Designating One Entity and 16 Individuals Connected to Burma’s Military Regime. The termination of the Burma sanctions program does not impact Burmese individuals or entities blocked pursuant to other OFAC sanctions authorities, such as counter-narcotics sanctions. BIS amended other sections of the EAR to add Burma to the list of . Economic Bank, and Myanmar Investment and Commercial Bank. Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) further escalated sanctions on Burma by adding two large Burmese military holding companies to its List of Specially Designated Nationals (“SDNs”). Country-based sanctions function by prohibiting certain defined transactions and sometimes travel, within the country’s territory, with persons who ordinarily . July 2, 2021 Commerce Increases Restrictions on Burmese Military by Adding Four Entities to Entity List in Continued Response to the Recent Military Coup. Last Updated: 09/03/2021 As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. 12 февр. 14014. 1 мар. For countries with multiple sanctions lists, this graph displays the primary sanctions list (for the US - OFAC, for Russia - RosFinMonitoring, . On February 10, 2021, in response to the February 1, 2021, military coup in Myanmar (Burma), President Biden issued an executive order (the . Myanmar junta leader Min Aung Hlaing, left, is among the first current and . In the first material sanctions-related action of the new U. Relaxation of Sanctions: - Banks. Since the Feb. Certain activities related to the Burma-Related Sanctions may be allowed if they are licensed by OFAC. Currently, sanctioned countries include the Balkans, Belarus, Burma, . Then, on April 8, OFAC designated MGE, a Burmese state-owned entity . OFAC removed three banks from its list of sanctioned parties, i. , Specially Designated Nationals ("SDNs"), and added two others that remain on the SDN list to a general license authorizing U. The sanctions (asset freeze and travel ban) have been imposed pursuant to Executive Order 14014 in response to the Burmese security forces’ attacks on unarmed protestors, which resulted in 4 deaths . Apr 09, 2021 · <p>The U. Aug 24, 2021 · This Sanctions List Search application ("Sanctions List Search") is designed to facilitate the use of the Specially Designated Nationals and Blocked Persons list ("SDN List") and other sanctions lists administered by OFAC, including the Foreign Sanctions Evaders List, the Sectoral Sanctions Identifications List, the List of Foreign Financial Institutions Subject to Correspondent Account or . 16 июн. 3 июл. 14 июл. 26 мар. MYANMAR ECONOMIC HOLDING LIMITED; a. . investment in Burma set forth in the Foreign Operations, Export Financing, and Related Programs Appropriations Act of 1997. 10 мар. MYANMAR GEMS CORPORATION; a. On 2 February, OFAC added two more Burmese generals to the SDN List. Feb 11, 2021 · Today, President Biden issued an Executive Order (E. Feb 11, 2021 · The following individuals have been added to OFAC's SDN List: AUNG, Ye, Burma; DOB 08 Jun 1960; POB Chauk, Burma; Gender Male (individual) [BURMA-EO]. Feb 23, 2021 · OFAC has listed Lieutenant General Moe Myint Tun and General Maung Maung Kyaw, who became members of Myanmar’s State Administration Council following the military coup on 1 February 2021. Read about how Burma (Myanmar) Sanctions. It then provided alternative documents that showed a non-sanctioned exporter. These SDN designations do not extend to the Government of Burma as a . OFAC publishes a list of Specially Designated Nationals (SDNs), which lists people, organizations, and vessels with whom U. 14014, pursuant to authorities delegated to the Secretary of the Treasury in E. Today's action adds two individuals and 14 companies to OFAC's List of Specially Designated Nationals. com Feb 12, 2021 · They include two individuals who were already sanctioned under the Global Magnitsky Sanctions program and three entities—Cancri Gems & Jewellery Co. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned four Burmese military and Border Guard . Other members of this list include Carrie Lam, the Chief Executive of Hong Kong and Fatou Bensouda, the Chief Prosecutor of the International Criminal Court. OFAC SDN List entries designated as Blocked Pending Investigation -Blocked Pending . ) 14014, "Blocking Property with Respect to the Situation in Burma. The US Treasury's Office of Foreign Assets Control (OFAC) has designated 7 key . SDN list even though . government largely lifted the country-based sanctions because of significant democratic reforms taking place in Burma. companies. Despite (or because of) the General License – which was unprecedented in that it broadly exempted . BURMA . And in January 2021 . Part 537. CORPORATION LIMITED (a. k. Some of these laws have been revoked, modified, and reissued in various forms: Feb 16, 2021 · The initial Myanmar sanctions program was the first OFAC program to make clear that contracting with designated persons (even in their official capacities as leaders of non-designated entities) was prohibited – we expect the same to be true here and hence those operating in Myanmar should take similar precautions when dealing with any . Administration, on February 11, 2021, President Biden issued Executive Order 14014 (EO) imposing sanctions on Myanmar (Burma) in response to the February 1, 2021, military coup and subsequent detention of government leaders . ” Targeted Export Restrictions. Maung Maung Kyaw and Moe Myint Tun were added to the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals list, which blocks their assets and prohibits Americans from doing business with them. They remain on the SDN List, and their property and interests in property remain blocked. STATE ADMINISTRATION COUNCIL), Naypyitaw, Burma; Target Type Government Entity [BURMA-EO14014]. 16. Department of the Treasury’s Office of Foreign Assets Control (OFAC) amended the Burmese Sanctions Regulations, 31 C. The Burmese military controls significant segments of the country’s economy through these holding firms, which enjoy a privileged position in the Burmese economy. added to the U. 30 мар. Feb 16, 2021 · Leaders or officials of “the Government of Burma on or after February 2, 2021. The broader Government of Myanmar has not been placed on the SDN list or been blocked (as has happened with certain other governments such . 2016 г. persons to engage in most transactions with them (but not new investment). website (https://www. HTUT, Soe, Burma; DOB 1960; Gender Male (individual) [BURMA-EO]. President Biden Imposes Sanctions & Export Controls on Myanmar In Response to Military Coup. The individuals are stated to be connected to Burma’s military regime, and include members of the State Administrative . As you will no doubt know, on February 1, 2021, the Myanmar military declared a . 17 июн. " These sanctions are not directed at the people of Burma. Subscribe to our "Biden-Harris Agenda" mailing list to receive our . Jan 01, 2021 · US sanctions 22 people and lists 4 entities in connection with Myanmar coup. In May of 1997, President Bill Clinton issued an executive order declaring a national . Companies doing business in Myanmar can risk involvement with individuals or entities on the OFAC SDN List or other applicable sanctions . and Myanmar Gems Enterprise—is a subdivision of…</p> Jul 27, 2021 · As part of the U. 12 мар. Feb 11, 2021 · Applying for a Specific OFAC License. PROGRAM. Notice of OFAC Action(s) . 2015 г. 26 февр. • BIS published a final rule in the Federal Register on October 24, 2007 (72 FR 60248) which amended the EAR to - move Burma from Computer Tier 1 to Computer Tier 3; - move Burma from Country Group B into more Mar 11, 2021 · Andrea M. (SDN List) based on OFAC's . The United States on Wednesday imposed sanctions on two children of Myanmar's military leader Min Aung Hlaing and six companies they control . These interpretations of OFAC policy are sometimes . 20 окт. ” OFAC’s 50 Percent Rule speaks only to ownership and not to control. and Myanmar Economic Corporation Limited to the Entity List and on . STATE ADMINISTRATIVE COUNCIL (a. OFAC Compliance Officers should take notice, as US Treasury expects financial institutions to use beneficial ownership information not only to comply with . THE WHO'S WHO OF THE SDN LIST Burmese individuals (enterprises not included) sanctioned on the US Treasury's Office of Foreign Assets . Foreign companies are at risk of SDN designation for providing . AUNG, Dagon Win; a. May 20, 2016 · In February 2013, OFAC created General License 19 (“GL 19”) which authorized almost all transactions involving four of Myanmar’s major financial institutions on the SDN List (MEB, MICB, Asia Green Development Bank, and Ayeyarwady Bank). ) . ” Any “political subdivision, agency, or instrumentality of the Government of Burma. 16 февр. January 1, 2017. In parallel to OFAC designations, BIS imposed a series of restrictions on exports of sensitive items to the Burmese military and security . On the 28 May 2021 OFAC issued the Burma Sanctions Regulations to implement Executive Order 14014 “Blocking Property with Respect to the . OFAC General License No. . The SDN List designation means that all dealings with these companies and any entities 50% or more owned by these companies will be . Posted on June 19, 2017. Among the individuals sanctioned today are seven key members of Burma’s military, which continues to repress the pro-democracy movement in the country and use lethal force against the people . All individuals and entities that were blocked under the Burmese Sanctions Regulations (BSR) have been removed from OFAC's list of Specially . Jul 03, 2021 · July 2, 2021 WASHINGTON — Today, the U. Jan 01, 2017 · The End of Burma (Myanmar) Sanctions. Burmese officials and businessmen remaining on the SDN List have . This was a broad regime-focused sanctions program that had been in place for almost two decades. , Myanmar Imperial Jade Co. Both remain on the U. gov/ofac). O. Concurrent with EO 14014, OFAC designated 10 Burmese current and former . part 537 (“the Regulations”), and updated the Specially Designated Nationals and Blocked Persons (SDN) List. This fact sheet is a broad summary of the sanctions currently in place. May 30, 2021 · List of OFAC Sanctioned Countries The US Department of State prohibits the export of military/space equipment or technical data to these countries, and to foreign nationals of these countries: As of May 30, 2021 Sep 03, 2021 · The Sanctions List Search tool uses approximate string matching to identify possible matches between word or character strings as entered into Sanctions List Search, and any name or name component as it appears on the SDN List and/or the various other sanctions lists. The OFAC Burma Sanctions Program began in 1997, and the Burmese Sanctions Regulation in the Code of Federal Regulations in 31 C. Among the individuals sanctioned today are seven key members of Burma’s military, which continues to repress the pro-democracy movement in the country and use . Posted in Economic Sanctions. Ayeyarwady Bank is controlled by Zaw Zaw, another businessman close to the former military regime. Please note that the Burmese Sanctions Regulations, 31 C. For a list of authorities and authorizations, please refer to OFAC’s . Both entities were sanctioned under OFAC's Myanmar sanctions program . Department of the Treasury’s Office of Foreign Assets Control (OFAC) has placed Myanma Gems Enterprise on its Specially Designated National list—which means the vast majority of Burmese rubies, jade, and other gems cannot be purchased by U. AL FAY COMPANY, Building 54100, Adapazari, Sakarya Province, Turkey; Organization Type: Other monetary intermediation [SDGT]. OFAC added the following entity: MYANMA GEMS ENTERPRISE (f. treasury. 2021 г. goods on the Defence and Strategic Goods List are likely to be considered . OFAC SDN List 19 июн. OFAC adds Burmese individuals and entities to its SDN List See full list on sanctionswiki. 66 Kaba Aye Pagoda Road . Recently issued OFAC General License 20 authorizes certain transactions . Today, the U. Also today, OFAC identified as blocked and added to the SDN list six companies that are owned 50 percent or more by persons on the SDN List: Steven Law and Asia World. Mar 26, 2021 · The Office of Foreign Assets Control (OFAC) of the US Treasury announced overnight the addition of two key Myanmar entities to its Specially Designated Nationals List (SDN List). MYANMAR. citizens and permanent residents are prohibited from doing business. Jul 02, 2021 · July 2, 2021. 25 мая 2021 г. ) that authorizes new U. 2021. 11 дек. O) 14014. The US Treasury’s Office of Foreign Assets Control (OFAC) has designated 7 key members of the Myanmar military and 15 of the spouses and adult children of previously designated senior Burmese military officials, pursuant to Executive Order (E. For example, General Min Aung Hlaing has been on the SDN list since . Department of Commerce's Entity List on March 4, 2021. individuals residing in Burma; and allow most . Mar 15, 2021 · Pursuant to the Executive Order, on February 11, OFAC designated six officers of Myanmar's military who played a direct role in the coup, 2 and four military officials who were appointed to positions in Myanmar's State Administration Council (SAC) government following the coup. WASHINGTON — Today, the U. The company provided documents stating the exported sand came from a Myanmar company on OFAC’s SDN List. e. Additional information pertaining to the SDN List can be found in . However, the February 2021 military coup which toppled the civilian government of President Win Myint and State Counsellor Aung San Suu Kyi . [28] GL-17 preserves the ban on new investments with any person named in the Specially Designated Nationals and Blocked Persons List ("SDN List") published . Part 537, have not yet been revised to incorporate all of the authorities and authorizations described here. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 22 individuals connected to Burma’s military regime. 5 дней назад . of the entities and two of the vessels also appear on the SDN List). The Secretary of State, pursuant to a delegation of authority from the President, has waived the ban on new U. OFAC has now subjected 100 individuals and entities to its Burma sanctions, targeting key state-owned enterprises, senior junta officials, regime cronies and their business networks. May 17, 2016 · WASHINGTON – Today, the U. 3 мар. Gacki, Director of OFAC, said that the use of indiscriminate violence by Myanmar’s security forces against peaceful protesters is unacceptable. DWE, Aung Lin (a. MYANMAR GEMS ENTERPRISE), No. Finally, OFAC added two military holding companies utilized by the Burmese military to control significant segments of the Burmese economy, including trading . Visit the link below to apply for an OFAC license. Australia imposed autonomous sanctions in relation to Myanmar in response to . May 17, 2021 · The following entities have been added to OFAC's SDN List: >/b>. government’s interest to authorize particular economic activity related to Burma-Related Sanctions. the Myanmar military that left two protestors dead, OFAC designated . DWAY, Aung Lin), Burma; DOB 31 May 1962; Gender Male (individual) [BURMA-EO]. (Tatmadaw) Other Information: (UK Sanctions List . May 14, 2004 · Burma • BIS has export and reexport licensing jurisdiction for dual use items to Burma. This list differs from the list maintained pursuant to Section 314(a) of the Patriot Act . 3 Additionally, OFAC designated three entities operating in Myanmar . The following changes have been made to OFAC's SDN List: AUNG, Win (a. The list of sanctioned countries is updated periodically and is available here. This removal is the culmination of actions taken by the Obama Administration in October 2016 to terminate the national emergency with respect to Myanmar ( EO 13742) and other Myanmar-related . 2013 г. Specifically, OFAC issued regulatory amendments intended to support trade with Burma; facilitate the movement of goods within Burma; allow certain transactions related to U. relaunches a sanctions regime for Burma by authorizing blocking . Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued an additional round of sanctions pursuant to Executive Order 14014 “Blocking Property with Respect to the Situation in Burma” (“EO 14014”). allows the U. To ensure compliance with Myanmar sanctions, firms should be familiar with the relevant restrictions applicable in their jurisdiction. "MEHL"), 51*Mahabandoola Road 189/191, Botataung, Rangoon 11161, Burma; Registration Number 156387282 (Burma) [BURMA-EO14014]. added to OFAC's Specially Designated Nationals and Blocked Persons List. Part 525 (the “BSR”) to implement Executive Order 14014, “Blocking Property With Respect to the Situation in Burma” (“EO 14014”). Apr 26, 2021 · On March 22, 2021, OFAC designated two additional individuals associated with the military regime and two military units that engaged in excessive force against the people of Burma. 14 мая 2021 г. OFAC issues interpretive guidance on specific issues related to the sanctions programs it administers. Apr 08, 2021 · July 2, 2021 Treasury Sanctions Senior Officials and Family Members Connected to Burma’s Military. UNKNOWN. OFAC is issuing the Burma Sanctions Regulations, 31 CFR part 525 (the . a. Position: Commander of the 33rd Light Infantry Division of the Myanmar Armed Forces. Seven adult children of regime members are on the list, too. S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC's Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC's determination that one or more applicable legal criteria were . person must obtain a specific license from OFAC in order to open an account at a blocked Burmese financial institution other than those Mar 30, 2021 · Start Preamble AGENCY: Office of Foreign Assets Control, Treasury. It designates and adds the State Administrative Council (“SAC”), four individual members of the SAC, seven SAC-appointed ministers, the SAC-appointed governor of the Central Bank of Myanmar (“CBM”), the SAC-appointed chairman of . Office of Foreign Assets Control (OFAC) to impose sanctions on the country’s military leadership and could lead to broader sanctions on government-controlled ministries and companies in the future. Apr 21, 2021 · On June 1, 2021, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) published the Burma Sanctions Regulations at 31 C. We anticipate that additional designations will be forthcoming. print email share. ACTION: Notice. Sanctions related to Myanmar were enacted under the Special Economic Measures Act to respond to the human rights and humanitarian situation . The US Treasury on Monday announced new sanctions on two generals behind the recent coup in Myanmar. Burma (Myanmar) used to be on this list, but since 2011 the U. 1 июн. Feb 12, 2021 · As noted above, the Executive Order authorizes OFAC to designate any party determined to be “owned or controlled by, or acting for or on behalf of, directly or indirectly, the military or security forces of Burma or a person blocked pursuant to the Executive Order. 70-072 Yarza Thingaha Road, Thapyaygone Ward, Zabuthiri Township, Naypyitaw, Burma; Rm Counter 23/24, G Flr, Mayangone, Rangoon, Burma; No. (No, OFAC did not accidentally sanction Myanmar's Central Bank. 6 авг. SANCTIONS . See full list on arnoldporter. Government’s ongoing response to the military coup in Burma (Myanmar), the Department of Commerce’s Bureau of Industry and Security (“BIS”) added four entities to the Entity List effective July 6, 2021 and the Department of Treasury’s Office of Foreign Assets Control (“OFAC”) added twenty-two individuals to the Specially Designated Nationals & Blocked Persons . It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. SUMMARY: The U. Jul 14, 2021 · In addition, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) designated 22 individuals in Burma as Specially Designated Nationals (“SDNs”) pursuant to Executive Order 14014 (“EO 14014”). Jun 01, 2021 · OFAC is issuing the Burma Sanctions Regulations, 31 CFR part 525 (the “Regulations”), to implement E. Sep 03, 2021 · This Sanctions List Search application ("Sanctions List Search") is designed to facilitate the use of the Specially Designated Nationals and Blocked Persons list ("SDN List") and other sanctions lists administered by OFAC, including the Foreign Sanctions Evaders List, the Sectoral Sanctions Identifications List, the List of Foreign Financial Institutions Subject to Correspondent Account or . 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). F. MEHL and MEC to the Entity List, meaning that both US and non-US . 20 июл. Mar 25, 2021 · SPECIALLY DESIGNATED NATIONALS LIST UPDATE The following entities have been added to OFAC's SDN List: MYANMA ECONOMIC HOLDINGS PUBLIC COMPANY LIMITED (a. Steven Law and Asia World were designated by OFAC pursuant to Executive Order 13448 in February 2008 for providing support to the Government of Burma, which was then dominated by . 13 апр. 14014 appears in appendix A to this part. , and Myanmar Ruby Enterprise—that are (according to a UN-sponsored report) subsidiaries of Myanmar Economic Holdings Limited (MEHL), a military-controlled commercial conglomerate sanctioned by OFAC from July 2008 to October 2016. At the time of this article, new sanctions programs that OFAC updated on this list include the Burma-related sanctions of February 22, 2021. The challenge is that the designated SDNs still on the OFAC list with previous severe violations of human rights own a large portion of key sectors thus . including possible BIS Entity List designations, adding Burma to . It may be in your and the U. Feb. WASHINGTON – Today, the U. Feb 16, 2021 · Following that announcement, on February 10, the president signed an “Executive Order Blocking Property with Respect to the Situation in Burma” and the Treasury Department’s Office of Foreign Assets Control (OFAC) imposed new sanctions on ten military individuals (two of whom were previously designated under a different program) and three . 2017 г. Mar 25, 2021 · OFAC Sanctions Two Military Holding Companies With Large Influence Over Burmese Economy. 25 мар. On October 7, 2016 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. 10 Ward, Hlaing Township, Yangon, Burma [BURMA]. ofac list myanmar