On October 6, 2022, the US Department of the Treasury’s Office of Financial Asset Control designated Burmese company Dynasty International Company Limited (“Dynasty”), the company’s founder Aung Moe Myint (“Aung”), its former director Hlaing Moe Myint, and its current director Myo Thitsar, for using the company to facilitate the procurement of various weapons, armaments, missiles, and aircraft for the Burmese military. Following the coup led by Burma’s military that overthrew the democratically elected civilian government in February 2021, OFAC reports that the military continues to engage in acts of violence and oppression against the Burmese people, including the killing of more than 2,300 innocent civilians and displacement of more than 900,000 people. Aung has allegedly used Dynasty in various arms deals and weapons purchases made on behalf of Burma’s military. As a result, OFAC designated the company and its executives pursuant to Executive Order 14014 – Aung for operating in the defense sector of the Burmese economy, Dynasty for being owned or controlled by Aung, and Hlaing Moe Myint and Myo Thitsar for having acted on behalf of Dynasty.
On the same day, the State Department designated Than Hlaing, Burma’s former police chief and deputy Home Affairs minister, for his participation in the extrajudicial killing of peaceful protestors in February 2021. Hlaing was designated for his involvement in gross violations of human rights pursuant to Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Action, 2022.
As a result of these designations, all property and interests in property of today’s designees within the United States or within the possession or control of a U.S. person are blocked, and U.S. persons are generally prohibited from engaging in transactions involving the designated persons. In addition, entities owned 50 percent or more by one or more blocked persons are also blocked.