OFAC Posts Two More General Licenses on Burma Humanitarian Financial Transactions
The Office of Foreign Assets Control has posted another new license, Amended General License No. 14, under its Burmese Sanctions Regulations, which authorizes certain additional financial transactions in support of humanitarian or religious activities in Burma (Myanmar), in the wake of Cyclone Nargis.
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OFAC has also posted new General License No. 15, under its Burmese Sanctions Regulations, regarding certain personal remittances to Burma, etc.
Amended General License 14
Amended General License No. 14 is identical to the original General License No. 14 - except for two changes:
Amended General License No. 14 is in effect for 120 days, from May 9, 2008 through September 6, 2008. Upon the expiration of Amended General License No. 14, the terms of the original General License No. 14 will remain in effect.
The amended general license allows U.S. persons to make donations to any organization or individual engaged in not-for-profit humanitarian or religious activities in Burma, subject to certain conditions.
(Original General License No. 14 is limited to U.S. or third country non-governmental organizations (NGOs), and prohibits transactions with, or on behalf of, a NGO owned or controlled by the Government of Burma.)
See ITT's Online Archives or 05/09/08 news, 08050940, for BP summary of original General License No. 14.)
General License No. 15
General License No. 15 allows U.S. financial institutions to process transfers of funds, unlimited in amount, for noncommercial, personal remittances to or from Burma, or for or on behalf of an individual ordinarily resident in Burma, subject to certain conditions.
OFAC explains that prior to the issuance of this general license, noncommercial, personal remittances to Burma were permitted only insofar as total remittances did not exceed $300 per Burmese household in any consecutive three-month period; this new general license does not include such a limitation.
(See ITT's Online Archives or 05/08/08, 08050840, for BP summary of recently issued Executive Order 13464 which expands the sanctions against Burma.)
OFAC press release (dated 05/09/08) available at http://www.treas.gov/offices/enforcement/ofac/actions/20080509.shtml
Amended General License No. 14 (dated 05/09/08) available at http://www.treas.gov/offices/enforcement/ofac/programs/burma/gls/burmagl14_amend.pdf
General License No. 15 (dated 05/09/08) available at http://www.treas.gov/offices/enforcement/ofac/programs/burma/gls/burmagl15.pdf