The US has issued a new general license (General License 20) to facilitate trade with Burma (Myanmar).
General License 20 authorizes certain trade-related transactions that are otherwise prohibited by the US Burmese Sanctions Regulations, which have been in place since 1997. General License 20 represents the latest of a number of steps that have been taken over the past three years to ease US-Burma sanctions.
General License 20 authorizes US citizens and companies to engage in trade transactions with Burma despite the involvement of Burmese port operators and others who are targeted on the US list of Specially Designated Nationals (SDNs). Such authorized transactions are limited, however, to those that are "ordinarily incident" to exports to or from Burma, and do not include exports that are "to, from, or on behalf of" SDNs.
General License 20 also authorizes US financial institutions to unblock certain recent transactions if those transactions would now be authorized under General License 20.
According to the related US Treasury Department's press release:
"Today's general license supports the prior easing of U.S. economic sanctions on Burma in response to significant positive reforms in the country, while maintaining targeted sanctions against specific individuals and entities."
The authorizations in General License 20 expire on June 7, 2016.
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