On March 10, 2021, the US Department of the Treasury’s Office of Foreign Assets Control designated the two adult children of Min Aung Hlaing, Burma’s top military commander who was recently designated by OFAC pursuant to Executive Order 14014, as one of the leaders responsible for the overthrow of Burma’s democratically elected government. Hlaing’s two children, Aung Pyae Sone and Kin Thiri Thet Mon, were designated pursuant to EO 14014, “Blocking Property with Respect to the Situation in Burma,” for being adult family members of a person whose property was blocked under EO 14014. The two have a number of businesses that have also benefited from their father’s position and malign influence; therefore, six companies owned by the adult children were also designated by OFAC.
As a result of these OFAC designations, all US property belonging to these individuals and entities is blocked, and all transactions with US persons is generally prohibited. In addition, any entity that is owned fifty percent or more by one or more sanctioned persons is also blocked.
The OFAC designations come shortly after the US Commerce Department’s Bureau of Industry and Security (BIS) implemented new restrictions for exports to Burma. On March 4, 2021, the BIS restricted exports and re-exports to Burma, and the transfer of sensitive items subject to the Export Administration Regulations (EAR) within that country, in response to the military coup and the violent handling of peaceful protesters. The BIS also added four Burmese entities to the Entity List in order to further restrict the export, re-export and transfer of items by entities that are directly or indirectly responsible for the coup.
The US State Department also released a statement condemning the military leadership in Burma for using violence against its own people, and showing support for OFAC’s designation of Hlaing’s adult children and six of their entities, stating that, “leaders of the coup, and their adult family members, should not be able to continue to derive benefits from the regime as it resorts to violence and tightens its stranglehold on democracy.”
Department of Treasury Press Release | Department of Commerce Press Release | Department of State Press Statement