November 9, 2022

OFAC imposes additional Burma-related sanctions on the second anniversary of Burma’s last general election

On November 8, 2022, the second anniversary of the last general election held in Burma, the US Department of the Treasury’s Office of Foreign Assets Control joined the EU to impose newly issued sanctions under its Burma sanctions regime.  In recognition of the general election held in Burma on November 8, 2020, which was brutally overturned by a military coup on February 1, 2020, OFAC designated one individual and one entity pursuant to Executive Order 14014, which targets persons who operate in defense sector of the Burmese economy.  OFAC designated Kyaw Min Oo, a Burmese businessman, and his company, Sky Aviator Company Limited, for participating in arms deals and weapons purchases on behalf of Burma’s military and for using Sky Aviator to upgrade and maintain Burmese military aircraft.  To facilitate the arms deals, Kyaw Min Oo also reportedly served as a middleman who arranged visits to Burma for high-ranking foreign military officers.

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.

Department of Treasury Press Release