Regulatory Alerts2024-11-13 | 2024-26127Burma Sanctions Regulations
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing a final rule to comprehensively revise the Burma Sanctions Regulations (31 CFR part 525) in furtherance of Executive Order 14014. This action replaces the abbreviated regulations published in 2021 with a complete set of provisions that includes additional interpretive guidance, definitions, general licenses, and sectoral sanctions regarding Myanma Oil and Gas Enterprise. The revised regulations implement targeted sanctions blocking property of persons involved in the February 1, 2021 coup or undermining Burma's democratic transition, while clarifying prohibitions on financial services and transactions involving blocked assets.
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