US – Burmese Sanctions Regulations amended to add general licenses

On May 18, 2016, the Office of Foreign Assets Control (OFAC) published in the Federal Register a final rule amending the Burmese Sanctions Regulations (31 C.F.R. Part 537) to add a general license authorizing certain transactions related to U.S. persons residing in Burma. OFAC is also incorporating a general license authorizing certain transactions incident to exports to and from Burma that has, until now, appeared only on OFAC’s website on the Burma sanctions page, and expanding this authorization to allow certain transactions incident to the movement of goods within Burma that otherwise would be prohibited. Finally, OFAC is expanding and updating another existing authorization allowing most transactions involving certain blocked financial institutions.

Please check our Sanctions blog for additional information and future updates.