News 12 Feb, 2021

Myanmar sanctions - new U.S. designations

Tony Paulson
Tony Paulson
Head of Asia & Corporate Director

In reaction to the seizure of power by the military in Myanmar, President Biden has issued an Executive Order designating ten officials in the military regime along with three entities with ties to them. Details can be found in a U.S. Department of the Treasury press release (see below).

Members should check to ensure that any business connected with Myanmar does not involve any designated parties. The U.S. administration has warned that they may impose further measures, noting that: “We are also prepared to take additional action should Burma’s military not change course. If there is more violence against peaceful protestors, the Burmese military will find that today’s sanctions are just the first.”

Members with any questions on this or any other sanctions matter should contact the Managers.