US BURMA/MYANMAR SANCTIONS – OFAC ADDS 2 ENTITIES TO LISTS: KEY TIMBER AND PEARL ENTERPRISES

On 21 April, OFAC designated 2 Burmese state-owned enterprises, Myanma Timber Enterprise (MTE) and Myanmar Pearl Enterprise (MPE), which are responsible for timber and pearl exports from Burma. The timber and pearl industries are key economic resources for the Burmese military regime that is violently repressing pro-democracy protests in the country and that is responsible for the ongoing violent and lethal attacks against the people of Burma, including the killing of children. 

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210421

https://home.treasury.gov/news/press-releases/jy0138

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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