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OFAC

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On July 2, 2021, the US Government imposed sanctions on several military-affiliated entities and individual senior officials and certain family members in response to the February military coup in Burma (Myanmar). In a statement on the same day, the US State Department said that these “measures further demonstrate that [the US Government] will continue to take additional action against, and impose costs on, the [Burmese] military and its leaders until they reverse course and provide…

On June 21, 2021, the US Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued Belarus General License 3 (“GL 3”) authorizing certain transactions with the newly designated State Security Committee of the Republic of Belarus (“Belarusian KGB”) along with related FAQs (FAQ 912 and FAQ 913). In addition to the Belarusian KGB, OFAC designated 16 new parties to the Specially Designated Nationals and Blocked Persons List (“SDN List”) pursuant to Executive Order…

On June 17, 2021, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued three pandemic-related general licenses (“GLs”) authorizing certain transactions and activities through June 16, 2022, involving Syria, Venezuela, Iran, or certain blocked entities in these countries. The new GLs are Syria General License No. 21, Venezuela General License No. 39, and Iran General License N,  and they authorize certain transactions and activities related to the prevention, diagnosis, or treatment of COVID-19…

On June 3, 2021, President Biden issued Executive Order 14032, “Addressing the Threat from Securities Investments that Finance Certain Companies of the People’s Republic of China” (the “CMIC EO”). This amends and replaces Executive Order 13959 (“EO 13959”) and revokes Executive Order 13974 (“EO 13974”) that restricted investments in certain “Communist Chinese Military Companies” (“CCMCs”). The main changes implemented by the CMIC EO and related public guidance are to (1) change the group of targeted…