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Sanctions Targeting Myanmar

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On 21 June 2021, the UK and EU both announced further sanctions targeting individuals and entities linked to Myanmar’s military regime. The EU announced that it was imposing sanctions against an additional 8 individuals, 3 economic entities (Myanmar Gems Enterprise; Myanmar Timber Enterprise (“MTE”); and Forest Products Joint Venture Corporation Limited) and the War Veterans Organisation. All designated persons are subject to asset freezes, with individuals subject to travel bans. EU persons are prohibited from…

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 19 April 2021, the EU announced further Myanmar sanctions coming into force immediately, adding 10 further individuals to its sanctions list. These 10 individuals were targeted for the positions they hold as members of the State Administrative Council and, unlike previous rounds of designations, do not appear to be military or police officials. This brings the total number of sanctioned individuals to 35 (see our previous blog post here). The Council has also imposed…

On 1 April 2021, the UK government announced additional measures targeting the Myanmar regime’s economic interests. Further to the 25 March 2021 announcement targeting Myanmar Economic Holdings Ltd (MEHL), the UK has added Myanmar Economic Corporation (MEC) to its Global Human Rights sanctions regime. The UK cited credible evidence that MEC had contributed funds to the Myanmar military who have allegedly committed widespread human rights violations in Myanmar. The sanctions impose an asset freeze against…