OFAC sanctions officials and family connected to Burmese military
On July 2, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Order 14014 against 22 individuals connected to Burma’s military regime. The designations include seven key military members, along with 15 individuals identified as either the spouses or adult children of previously sanctioned senior military officials “whose financial networks have contributed to military officials’ ill-gotten gains.” The sanctions complement new restrictions imposed on four entities that have provided support for the Burmese military by the U.S. Department of Commerce’s Bureau of Industry and Security. As a result of the sanctions, all property and interests in property belonging to the identified individuals subject to U.S. jurisdiction are blocked and must be reported to OFAC. Additionally, “any entities that are owned, directly or indirectly, in the aggregate, 50 percent or more by one or more blocked persons are also blocked.” U.S. persons are generally prohibited from engaging in any dealings involving the property or interests in property of blocked or designated individuals, unless exempt or authorized by a general or specific license.