OFAC Revises, Reissues Myanmar Sanctions Regs

The Office of Foreign Assets Control issued a final rule this week to revise its sanctions regulations for Myanmar, releasing a “more comprehensive set of regulations” with more guidance and definitions. The rule, effective Nov. 13, also includes general licenses and “other regulatory provisions that will provide further guidance to the public,” OFAC said. The new regulations replace the rules that were published in “abbreviated form” in 2021.