The US Treasury’s Office of Foreign Assets Control (OFAC) has removed Win Aung and two of his businesses from its list of Specially Designated Nationals. Mr Aung is head of Burma’s Chamber of Commerce and a prominent businessman in the country. Listed people and entities have all of their assets within US jurisdiction frozen and US persons are generally prohibited from doing business with them.
The detail of why Mr Aung was designated under US sanctions has never been published, nor has a reason been given for his delisting. He was the subject of a confidential 2007 US embassy cable that alleged he and his family were using “their close connections with the Burmese regime to amass great wealth” through construction projects.
In a written statement, US Treasury Spokesperson Marie Harf said that listed people and entities may seek delisting “by submitting verifiable information demonstrating that changed circumstances warrant their removal, including that they have taken positive steps and changed behaviour”, although removals are relatively rare.