Category

US Sanctions against Burma

Category

On June 1, 2021, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) published the Burma Sanctions Regulations at 31 C.F.R. Part 525 (the “BSR”) to implement Executive Order 14014, “Blocking Property With Respect to the Situation in Burma” (“EO 14014”). EO 14014 imposed sanctions on certain Burmese parties in response to the Burmese military’s coup against the democratically elected civilian government. The BSR do not expand upon the sanctions previously imposed under EO…

On February 10, 2021, President Biden issued Executive Order 14014 “Blocking Property with Respect to the Situation in Burma” (“EO 14014”), which provides for the imposition of sanctions on certain Burmese parties in response to the Burmese military’s coup against the democratically elected civilian government in Burma. In parallel with the issuance of EO 14014, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) designated thirteen parties on February 10, 2021 and two parties…

On 7 October 2016, following his prior announcement (see prior blog post here) of the intention to terminate US sanctions targeting Myanmar (also known as Burma), President Obama issued an Executive Order (“the 7 October Executive Order”) terminating US sanctions targeting Myanmar. As a result of this action, the sanctions that previously restricted US Persons (i.e., US citizens or permanent residents, wherever located or employed; entities organized under US law (and their non-US branches); and persons located in the United States) from engaging in certain activities involving Myanmar or specific entities associated with Myanmar are no longer in effect. The US Treasury Department’s Office of Foreign Assets Control (“OFAC”) simultaneously published a Fact Sheet explaining these changes and updated its list of Frequently Asked Questions regarding Myanmar.

On September 14, 2016, President Obama announced his intention to terminate US sanctions targeting Myanmar, also known as Burma (“Myanmar”), completing the process of relaxing US sanctions against Myanmar that began in July 2012.  In a joint statement issued by the United States and Myanmar, President Barack Obama and State Chancellor Daw Aung Sun Suu Kyi announced the US-Myanmar Partnership, which will ultimately allow for deepened economic ties across a range of sectors between the countries.  As an initial step for implementing the partnership, the President announced that the United States will terminate US sanctions and will revoke the Executive Order-based framework of the Myanmar sanctions program.