Today, OFAC added a general license authorizing transactions related to U.S. individuals residing in Burma, extended and expanded an existing general license authorizing trade-related transactions, and updated an existing general license authorizing certain banking services. As background, an OFAC license is an authorization to engage in a transaction that otherwise would be prohibited. There are two types of licenses: general licenses and specific licenses. A general license broadly authorizes a particular type of transaction, subject to certain conditions, without the need to individually apply for a specific license.
Please visit the link below for the full update: