Sanctions Top-5 for the week ending 26 March 2021

  1. The United States, the EU, the UK, and Canada rolled out coordinated sanctions aimed at a total of four officials and one entity in China in response to alleged human rights abuses in the Xinjiang Uyghur Autonomous Region (XUAR). (Announcements here, here, here, and here.)
  2. China’s Ministry of Foreign Affairs reacted by announcing retaliatory sanctions on a total of 22 individuals and nine entities in the United States and Canada, the UK, and the EU. (Announcements here, here, and here). According to the statements, the targets will be barred from entering mainland China, Hong Kong, and Macao, and are subject to various business restrictions in China or with Chinese individuals and organizations. (More on this below.)
  3. The US Office of Foreign Assets Control (OFAC) named Myanmar Economic Holding Limited (MEHL) and Myanmar Economic Corporation (MEC) as Specially Designated Nationals (SDNs) under Executive Order 14014. The UK also sanctioned MEHL. Earlier in the week, OFAC and the EU announced other Myanmar designations (here and here). (For more on the Myanmar sanctions read my colleagues’ briefing here.)
  4. Canada’s Ministry of Foreign Affairs announced sanctions on nine Russian officials in response to allegations of gross and systematic violations of human rights. According to an announcement, the Canadian sanctions “are in line with measures previously taken by the European Union and the United States” in connection with the Alexey Navalny case.
  5. OFAC announced a USD 950,000 settlement with an Italian equipment manufacturer for violating the Iranian Transactions and Sanctions Regulations (ITSR). According to the OFAC settlement notice, the company procured parts from US exporters and disguised the fact that they intended to re-export them to customers in Iran.

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Nicholas Turner

Nicholas Turner

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US attorney in Hong Kong specializing in economic sanctions, financial crimes. Sign up for emails: http://eepurl.com/cVhTXf LinkedIn at: http://goo.gl/KX1jER