OFAC Issues Burma Sanctions Regulations
OFAC issued Burma Sanctions Regulations to implement Executive Order ("EO") 14014 ("Blocking Property with Respect to the Situation in Burma"). The President signed the EO on February 10, 2021 (see previous coverage here). OFAC stated that it published the regulations in an abbreviated form for "immediate guidance to the public," but added that it intends to supplement the new Part 525 regulations with a more comprehensive set of regulations.
The regulations will go into effect upon publication in the Federal Register, scheduled for June 1, 2021.
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President Biden signed an Executive Order authorizing sanctions against those responsible for the overthrow of the democratically elected civilian government of Burma by military authorities on February 1, 2021.
