Burma-related Designations, Designation Update and Designation Removal; Global Magnitsky Designation Update; Counter Terrorism Designation Update; Issuance of Burma-Related General Licenses and Associated Frequently Asked Questions

Release date

03/25/2021

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Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing Burma General License Number 1 "Official Business of the United States Government", Burma General License Number 2 "Official Activities of Certain International Organizations and Other International Entities", Burma General License Number 3 "Certain Transactions in Support of Nongovernmental Organizations' Activities", and Burma General License Number 4 "Authorizing the Wind Down of Transactions Involving Myanmar Economic Corporation Limited and Myanma Economic Holdings Public Company Limited." In association with these General Licenses, OFAC is also publishing two related Frequently Asked Questions (882 and 883). Additionally, OFAC has updated its Specially Designated Nationals and Blocked Persons List:

SPECIALLY DESIGNATED NATIONALS LIST UPDATE

The following entities have been added to OFAC's SDN List:

MYANMA ECONOMIC HOLDINGS PUBLIC COMPANY LIMITED (a.k.a. MYANMAR ECONOMIC HOLDING LIMITED; a.k.a. "MEHL"), 51*Mahabandoola Road 189/191, Botataung, Rangoon 11161, Burma; Registration Number 156387282 (Burma) [BURMA-EO14014].

MYANMAR ECONOMIC CORPORATION LIMITED (a.k.a. MYANMAR ECONOMIC CORPORATION; a.k.a. "MEC"), Corner of Ahlone Road & Kannar Road, Ahlone Township, Rangoon, Burma; Registration Number 105444192 (Burma) [BURMA-EO14014].

The following deletions have been made to OFAC's SDN List:

33RD LIGHT INFANTRY DIVISION OF THE BURMESE ARMY, Sagaing, Burma [BURMA-EO14014].

The following changes have been made to OFAC's SDN List:

33RD LIGHT INFANTRY DIVISION OF THE BURMESE ARMY, Sagaing, Burma [GLOMAG]. -to- 33RD LIGHT INFANTRY DIVISION OF THE BURMESE ARMY, Sagaing, Burma [GLOMAG] [BURMA-EO14014].

HASSAN, Abu Yasir (a.k.a. "HASSAN, Yaseer"; a.k.a. "QASIM, Abu"), Pwani Region, Tanzania; Cabo Delgado Province, Mozambique; DOB 1981 to 1983; nationality Tanzania; Gender Male (individual) [SDGT]. -to- HASSAN, Abu Yasir (a.k.a. "HASSAN, Yaseer"; a.k.a. "QASIM, Abu"), Cabo Delgado Province, Mozambique; DOB 1981 to 1983; POB Pwani Region, Tanzania; nationality Tanzania; Gender Male (individual) [SDGT].

Settlement Agreement between the U.S. Department of the Treasury’s Office of Foreign Assets Control and Nordgas S.r.l.

Release date

03/26/2021

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a settlement with Nordgas, S.r.l., a company located in Italy that produces and sells components for gas boiler systems and applications. Nordgas, S.r.l. agreed to remit $950,000 to settle its potential civil liability for apparent violations of the Iranian Transactions and Sanctions Regulations. Over an approximately four-year period, Nordgas knowingly reexported 27 shipments of air pressure switches procured from a U.S. company intended for as many as ten customers in Iran and caused a U.S. company to indirectly export its goods to Iran. In doing so, Nordgas obfuscated the reexportation and Iranian customers from the U.S. company. In view of the individual facts of this case, as well as Nordgas’s financial circumstances, its cooperation with OFAC, and its agreement to implement enhanced compliance commitments, $650,000 of the settlement amount will be suspended pending satisfactory completion of Nordgas’s compliance commitments. For more information, please visit the following web notice.