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U.S. targets leaders of Burma's military coup

Treasury has announced that the Biden administration yesterday launched a new sanctions regime in response to the Burmese military’s February 1 coup against the democratically elected civilian government of Burma. In coordination with the issuance of a new Executive Order, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated ten individuals and three entities connected to the military apparatus responsible for the coup. These sanctions specifically target those who played a leading role in the overthrow of Burma’s democratically elected government. The sanctions are not directed at the people of Burma.

As a result of yesterday’s action, all property and interests in property of the individuals and entities named above, and of any entities that are owned, directly or indirectly, 50 percent or more by them, individually, or with other blocked persons, that are in the United States or in the possession or control of U.S. persons, are blocked and must be reported to OFAC. Unless authorized by a general or specific license issued by OFAC or otherwise exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons.

For identifying information of the designated individuals and entities, see BankersOnline's OFAC Update.

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