Treasury Amends Burmese Sanctions Regulations, Identifies Blocked Companies Owned By Designated Persons, And Delists Several Burmese State-Owned Entities

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:

https://www.treasury.gov/press-center/press-releases/Pages/jl0458.aspx

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