OFAC Updates Week 3/22/21
March 22, 2021
The Office of Foreign Assets Control (OFAC) has updated its Specially Designated Nationals and Blocked Persons (SDN) List with Global Magnitsky [GLOMAG] and Burma-related designations. The GLOMAG designations consisted of individuals from both Burma and China while the Burma-related designations were placed on government officials and military entities.
March 25, 2021
OFAC has updated its SDN List with a variety of designations related to events in Burma. In addition to the designation updates OFAC has issued the following general licenses:
-Burma General License No. 1, Official Business of the United States Government
-Burma General License No. 2, Official Activities of Certain International Organizations
and other International Entities
-Burma General License No. 3, Certain Transactions in Support of Nongovernmental
-Burma General License No. 4, Authorizing the Wind Down of Transactions Involving
Myanmar Economic Corporation limited and Myanma Economic Holdings Public
Lastly, OFAC has issued two related Frequently Asked Questions (FAQs), FAQ 882 and FAQ 883.
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