March 3, 2021
On February 11, 2021, President Biden issued Executive Order 14014 "Blocking Property with Respect to Burma", which authorizes the imposition of sanctions on specific persons or entities in Burma, including Burmese military and Government of Myanmar (Burma) entities.
The Treasury Department's Office of Foreign Assets Control designated 10 individuals and three Burmese entities, including Myanmar Ruby Enterprise and Myanmar Imperial Jade Co., LTD. which are wholly owned subsidiaries of a conglomerate owned or controlled by the Burmese military to the Specifically Designated Nationals and Blocked Persons List. These decisions were made to hold those responsible for the February 1 coup, and to reaffirm the United States’ support for the democratic aspirations of the people of Myanmar.
A series of immediate export restrictions are being imposed on Burma’s Ministry of Defense, the Ministry of Home Affairs, armed forces, and security services in response to their recent activities to ensure that entities involved in the dismantling of democratic norms and institutions do not have access to U.S. technologies. The Executive Order will apply a presumption of denial for items requiring a license for export and reexport, revokes certain previously issued licenses, will suspend certain license exceptions previously available to Burma including License Exception Shipments to Country Group B countries, and License Exception Technology and Software under restriction. Further restrictions are still being explored.
U.S. companies should review their activities to ensure they’re not engaging with any of the newly added Specifically Designated Nationals or Blocked Persons, and that their activities are not impacted by any of the new export restrictions.
Please refer to the below links for additional information relative to this ruling:
Crane Trade Services can assist you with questions regarding this executive order and new export controls on Myanmar. For assistance please contact CWTSConsulting@craneww.com.