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On February 1, 2021, the Burmese military announced that it had seized control of the country from the country s democratically elected government.
1 In response to the coup, the US has so far designated 12 individuals and three entities and imposed restrictions on certain exports. Allied governments, including the European Union, the United Kingdom and Canada, either have promulgated their own sanctions or are considering doing so. The US has signaled that it is preparing additional measures targeting the individuals responsible for the coup and ensuing violence. Given the Burmese military s pervasive presence in Burma s economy, companies are advised, as a matter of priority, to assess their commercial ties with Burma.
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On 2 March 2021, the United States and European Union ( EU ) imposed coordinated sanctions in response to the poisoning and imprisonment of Russian opposition politician Aleksey Navalny (and the related US determination that Russia has used chemical weapons). The US Treasury Department s Office of Foreign Assets Control ( OFAC ) designated seven Russian government officials, confirming that its action complemented the EU s designations of four Russian officials on the same day. The US State Department imposed a variety of financial sanctions and export restrictions on Russia, while the US Department of Commerce announced that it is adding 14 entities to the Entity List.
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SMIC, a leading semiconductor manufacturing company in mainland China, set off a wave of craze yesterday, especially in Hong Kong stocks. SMIC rose 8% yesterday afternoon. There are two main reasons for this.
First, insiders confirmed that after months of negotiations and efforts, SMIC had been granted permission to buy relatively advanced equipment from US semiconductor equipment manufacturers, which are reported to be used mainly in mature process processes. This was listed as an export restriction enterprise by the US Department of Commerce in October last year (the US Department of Commerce s Bureau of Industry and Security sent a letter to some US suppliers. Some US equipment, accessories and raw materials exported to SMIC will be further restricted by US export controls, and they must apply for an export license beforehand before they can continue to supply SMIC.) A major progress has been made through n
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