Financial Crime World

President Biden Lifts Economic Sanctions on Burundi

Washington, D.C., November 18, 2021

President Joe Biden has signed an Executive Order terminating the national emergency with respect to Burundi and revoking Executive Order 13712. This decision comes after positive political developments in Burundi, including reforms pursued by President Évariste Ndayishimiye since his inauguration.

Background


Since 2015, economic sanctions have been administered by the Department of the Treasury’s Office of Foreign Assets Control (OFAC) against Burundi. The sanctions were authorized under Executive Order 13712. However, with the reforms undertaken by President Ndayishimiye, the United States has decided to lift these sanctions.

Positive Developments in Burundi


The reforms pursued by President Ndayishimiye have led to positive political developments in Burundi. While the country still faces human rights challenges, the US acknowledges these efforts and continues to press the government of Burundi to improve human rights conditions and hold accountable those responsible for violations and abuses.

Implications of Revocation


The revocation of Executive Order 13712 has several implications:

  • The removal of all individuals blocked solely under the Burundi Sanctions Regulations from OFAC’s Specially Designated Nationals and Blocked Persons List.
  • The unblocking of all property and interests in property blocked solely under these regulations.
  • The Burundi Sanctions Regulations will be removed from the Code of Federal Regulations at a future date.

Future Enforcement Actions


It is worth noting that pending or future enforcement investigations or actions related to apparent violations of the Burundi Sanctions Regulations that occurred while Executive Order 13712 was in effect may still be carried out by OFAC.