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In response to the recent military coup in Myanmar (also known as Burma) against the democratically-elected government, on February 11, 2021 the Biden Administration issued an Executive Order on Blocking Property with Respect to the Situation in Burma (E.O.), which launched a new targeted sanctions regime. That same day, the Treasury Department’s Office of Foreign Assets Control (OFAC) designated former and current officials of Burma’s military or security forces and affiliated entities in the jade and gems sector as Specially Designated Nationals (SDNs). In addition, the Commerce Department’s Bureau of Industry and Security (BIS) announced a series of steps to tighten export controls on certain ministries, armed forces, and security services, and to limit availability of license exceptions. It has been indicated that these are initial steps, and that further sanctions and export control may follow.
U S Imposes Targeted Sanctions And Export Restrictions On Burma In Response To Military Coup | Husch Blackwell LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
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Court fines ex-Kyrgyz official sanctioned under Global Magnitsky Act $3,000 for corruption
BISHKEK. Feb 11 (Interfax) - A court in Bishkek on Thursday found Raimbek Matraimov, former deputy head of the Kyrgyz State Customs Service, guilty of corruption and fined him $3,000. The court has found Raimbek Matraimov guilty of a crime envisaged by the Corruption article of the Kyrgyz Criminal Code. He has been fined 260,000 som ($3,000), the press service for Bishkek s Pervomaisky District Court told Interfax.
The court lifted the travel restrictions placed on Matraimov and lifted the freeze on his property, including his bank accounts, the press service said.
After the country s administration changed on October 20, 2020, Matraimov was detained by State National Security Committee officials in connection with a pretrial probe into corruption in customs bodies. The court then imposed travel restrictions on the former head of the Kyrgyz customs.
On January 9, 2021, China’s Ministry of Commerce (“
MOFCOM”) issued its first order of the year, the Rules on Counteracting Unjustified Extra-Territorial Application of Foreign Legislation and Other Measures (the “
Rules”), which are immediately effective as of the date of promulgation. These Rules are aimed to counteract the effects of US secondary sanctions, and parallels are inevitably being made with the EU s Blocking Statute
1. This article will point out the five aspects to know about the Rules.
I. What will be counteracted under the Rules?
The Rules aim to block the unjustified extra-territorial application, in China and to Chinese persons and entities, of certain foreign legislation and measures. According to Article 2 of the Rules, the foreign legislation or measures would be blocked if the application was determined to