OFAC Updates Week 5/24/21
May 27, 2021
The Office of Foreign Assets Control (OFAC) has removed Frequently Asked Question (FAQ) 880 and published FAQ 896 which are both related to Xiaomi Corporation. These actions were both in accordance with Executive Order 13959, "Addressing the Thtreat from Securities Investments That Finance Communist Chinese Military Companies."
May 28, 2021
OFAC has issued the Burma Sanctions Regulations in response to Executive Order 14014, "Blocking Property with Respect to the Situation in Burma." The regulations will take effect upon publication in the Federal Register on Tuesday, June 1, 2021. The regulations are codified at 31 CFR Part 525 and OFAC intends to supplement these regulations with additional guidance, general licenses and definitions at a later time.
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