The Treasury Department’s Office of Foreign Assets Control has issued the Burma Sanctions Regulations to implement Executive Order 14014 of Feb. 10, 2021. These regulations, which are effective as of June 1, include provisions on prohibited transactions, licenses, authorizations, statements of licensing policy, penalties, reports, and procedures.
OFAC states that these regulations are being published in abbreviated form to provide immediate guidance to the public and that it intends to supplement this rule with a more comprehensive set of regulations that may include additional interpretive and definitional guidance, general licenses, and other regulatory provisions.
For more information on these regulations and the trade-related prohibitions they include, please contact attorney Kristine Pirnia via email.
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