Today, the U.S. 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”). Myanmar Economic Holdings Public Company Limited (“MEHL”) and Myanmar Economic Corporation Limited (“MEC”) both dominate large sectors of the Burmese economy,
Burma Sanctions
New Export Control Restrictions Imposed on Burma, Four Parties Added to Entity List
By Kaitlyn Cunningham on
Posted in Export Controls and Sanctions
Today, the U.S. Bureau of Industry and Security (BIS) imposed additional export control restrictions on Myanmar (Burma) in response to the recent military coup in that country. BIS previewed the new restrictions in an announcement last month when the U.S. imposed sanctions on the country’s military leadership. Today’s changes include the following:
- BIS added the
…