Office of Foreign Assets Control – designation for sanction

US and UK Join Canada in Designating Myanmar’s Military Conglomerates, with EU Considering Further Action

US to blacklist two Myanmar military-linked conglomerates: Report |  Business and Economy News | Al Jazeera

April 2, 2021

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On March 25, 2021, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) imposed additional sanctions in response to the ongoing crisis in Myanmar (also called Burma) by designating the country’s two largest military conglomerates:  (1) Myanmar Economic Holdings Public Company Limited (“MEHL”) and (2) Myanmar Economic Corporation Limited (“MEC”).

Because Myanmar’s military controls significant segments of the country’s economy, including trading, natural resources, and consumer goods, through these two companies, these designations are the most consequential sanctions measures that the Biden Administration has taken to-date in response to the situation.

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