Article
The Treasury Department’s OFAC Issues General Licenses For Export Of Financial Services To Burma And New Investment In Burma
On July 11, 2012, President Obama issued an Executive Order, and the Department of the Treasury, Office of Foreign Asset Control (OFAC) issued two General Licenses (GL-16 and GL-17), authorizing both the export of financial services to Burma and "new investment" in Burma, both of which were previously prohibited by the Burmese Sanctions Regulations.
Vinson & Elkins LLP
