OFAC Makes Extensive Changes to Burma SDN List
The Treasury Department's Office of Foreign Assets Control made a lengthy update of the Specially Designated Nationals Burma Designations under the Iran Freedom and Counter Proliferation Act, effective July 2. The update is to assist foreign financial institutions in identifying which persons on the OFAC Specially Designated Nationals and Blocked Persons (SDN) list fall into the category of persons with whom a FFI may face exposure to sanctions on their U.S. correspondent or payable-through accounts. The phrase "Additional Sanctions Information -- Subject to Secondary Sanctions" will be applied to appropriate SDN listings. A list of SDNs affected by this update is in the July 2, 2013 section in OFAC’s SDN Changes file, which runs from page 35 to 170 of the file (here).
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
In addition, the following individual was added to OFAC's SDN List:
- HTAY, Thein; DOB 07 Sep 1955; POB Taunggyi, Burma; Lieutenant General; Chief of Defence Industries; Chief of Army Ordinance Industries (individual) [BURMA].