08
DEC
2015

U.S. OFAC Issues License For Exports to Myanmar

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Earlier today, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued General License No. 20 under the Burmese Sanctions Regulations (BSR).  This general license -- which is in effect until June 7, 2016 -- authorizes transactions with BSR “Specially Designated Nationals” (SDNs) that are “ordinarily incident” to exports to or from Myanmar, provided the exports are not to, from, or on behalf of SDNs. By way of background, SDNs include parties specifically designated by OFAC as well as entities 50% or more owned by one or more SDNs.

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