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COMPLIANCE MANAGER, MANUFACTURER, ILLINIOS
In recognition Burma’s peaceful elections in 2015, the U.S. government initiated steps to support the nation’s political reforms and economic growth by lifting some of the restrictions placed on country.
OFAC added some new general licenses and expanded existing ones. New general licenses include authorizing certain transactions related to U.S. individuals who live in Burma, authorizing certain transactions incidental to exports to and from Burma, expanding this authorization to allow certain transactions incidental to the movement of goods within Burma.
U.S. persons (both individuals and entities) generally remain prohibited from dealing with blocked persons and entities, including those on OFAC’s SDN list, as well as any entity owned 50% or more by someone on the SDN list, whether directly or indirectly. Few OFAC restrictions remain in force related to non-blocked Burmese banks. U.S. persons may engage in transactions with a non-blocked Burmese bank, including funds transfer, account creation and maintenance, and entering into new investments with said banks. The changes do not authorize any new investment with or through Asia Green Development Bank, Ayeyarwady Bank, Innwa Bank, or Myawaddy Bank, nor any of the entities that remain on the SDN list. The U.S. authorized the export and re-export of financial services to Burma except to the Burmese Ministry of Defense and state groups, but still subject to certain limitations.
Burma (Myanmar) Sanctions: Executive Orders
- 13651—Prohibiting Certain Imports of Burmese Jadeite and Rubies (Effective Date—August 7, 2013)
- 13619 Executive Order Blocking Property of Persons Threatening the Peace, Security, or Stability Of Burma (Effective Date—July 11, 2012)
- 13464 Blocking Property And Prohibiting Certain Transactions Related To Burma (Effective Date—May 1, 2008)
- 13448 Blocking Property and Prohibiting Certain Transactions Related to Burma (Effective Date—October 19, 2007)
- 13310 Blocking Property of the Government of Burma and Prohibiting Certain Transactions (Effective Date—July 29, 2003)
- 13047 Prohibiting New Investment in Burma (Effective Date—May 21, 1997)
Burma (Myanmar) Sanctions: Statutes
- Burma Freedom and Democracy Act of 2003, PL 108-61 (50 U.S.C. § 1701 note) (AS ORIGINALLY ENACTED, WITHOUT SUBSEQUENT AMENDMENTS, INCLUDING BY THE JADE ACT)
- Section 570 of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1997, PL 104-208, §§ 570.
- International Emergency Economic Powers Act (IEEPA), 50 U.S.C. §§ 1701-1706
- National Emergencies Act (NEA), 50 U.S.C. §§ 1601-1651
- Tom Lantos Block Burmese Jade (Junta’s Anti-Democratic Efforts) Act Of 2008, PL 110-286 (50 U.S.C. § 1701 note)
Burma (Myanmar) Sanctions: Waivers
- Limited Waiver of Certain Sanctions Imposed by, and Delegation of Certain Authorities Pursuant to, the Tom Lantos Block Burmese JADE (Junta’s Anti-Democratic Efforts) Act of 2008
Burma (Myanmar) Sanctions: Code of Federal Regulations
- 31 CFR Part 537—Burmese Sanctions Regulations
Burma (Myanmar) Sanctions: Federal Register Notices
- Federal Register Notice—Amending the Burmese Sanctions Regulations to add general licenses (May 17, 2016)
- 79 FR 37106-14—Amending and reissuing in their entirety the Burmese Sanctions Regulations, 31 C.F.R. part 537
- 72 FR 50047-07—Revision to the general license for certain publishing activities
- 72 FR 34376-07—Amendment related to the issuance of specific licenses for the importation of animals and specimens
- 70 FR 48240-05—Burmese Sanctions Regulations
Note: This information is provided for reference only.