Office of Foreign Assets Control (OFAC), is part of the U.S. Treasury Department, administers and enforces economic and trade sanctions based on the country’s foreign policy.
- Myanmar has been classified as a sanctioned country under the OFAC after military coup in Myanmar on February 1, 2021 and subsequent crackdown on mass protests.
- According to the media reports, Adani Ports and Special Economic Zone Ltd. said on May 4 that it could abandon a Myanmar container terminal project and write down the investment if it is found to be in violation of sanctions imposed by the U.S.
- Adani Ports had won a bid to build and operate Yangon International Terminal.
