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The US Government has imposed a series of sanctions against Myanmar Economic Corporation Limited (MEC) and Myanma Economic Holdings Public Company Limited (a.k.a. Myanmar Economic Holding Limited) (MEHL), two military-affiliated conglomerates, in response to the February military coup in Burma (Myanmar). The combined restrictions are likely to have a significant impact on business activities in Burma as these conglomerates have substantial interests and joint ventures in several sectors of the Burmese economy, including trading, natural resources, tourism, alcohol, cigarettes, and consumer goo...

To embed, copy and paste the code into your website or blog: The U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) issued final rules amending the Export Administration Regulations (“EAR”) by implementing new export controls on Burma (Myanmar), and adding four entities linked to the recent coup to the Entity List. These final rules effective March 8, 2021 come less than a month after President Biden imposed sanctions blocking U.S. property and interests of Burmese military and government officials. Burma Removed from Country Group B with Significant Repercussions...

Summary Building on the export controls and sanctions measures already imposed by the U.S. government in February in response to the military coup in Burma, the Bureau of Industry and Security (“BIS”) imposed additional export control restrictions on March 8, 2021, and OFAC designated additional parties as Specially Designated Nationals and Blocked Persons (“SDN”). The final rule published by BIS on March 8, 2021 implements the following changes to the Export Administration Regulations (“EAR”) affecting Burma: moving Burma from Country Group B to Country Group D:1; adding Burma to...

To embed, copy and paste the code into your website or blog: 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 fo...

To print this article, all you need is to be registered or login on Mondaq.com. 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 Burmese Ministry of Defence, the Ministry of Home Affairs, Myanmar Economic Corporation, and Myanmar Economic Holdings L...