OFAC Releases New Licenses Implementing Eased Burma Sanctions
The Treasury Department's Office of Foreign Assets Control is publishing General License No. 16 and General License No. 17 issued under the Burma sanctions program on July 11, 2012, it said in a Federal Register notice scheduled for Aug. 10.…
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General License No. 16 authorizes the export or reexport of financial services to Burma, subject to limitations. No. 17 authorizes new investment in Burma, subject to limitations and requirements. The transactions authorized by this License No. 16 include the activities formerly authorized by License No. 14-C and License No. 15. The new licenses are to implement the government's recent decision to ease sanctions on Burma (see ITT's Online Archives 12071205).