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BURMA (MYANMAR)Q: Why does OFAC have sanctions against Burma (Myanmar)?A: OFAC's sanctions are a response to the Burmese Government's large scale repression of, and violence against, the Democratic opposition to the government. Q: What are the extent of the sanctions? A: The sanctions prohibit new investment in Burma by U.S. persons and any American's facilitation of new investment in Burma by foreign persons. The sanctions also ban the importation of Burmese products and the exportation or re-exportation of financial services to Burma by U.S. persons. Generally, no U.S. person can have any dealings, financial or otherwise, with persons designated by the Treasury as a senior official of the Burmese Government, State Peace and Development Council and the Union Solidarity and Development Association. Q: How long have the sanctions been in place? A: The prohibition on new investment in Burma has been in place since 1997, and the others have been in place since the passage of the Burmese Freedom and Democracy Act of 2003. Q: What does the exportation of "financial services" mean in this context? A: With a broad definition, "financial services" means (1) the transfer of funds, directly or indirectly, from the U.S. or by a U.S. person (wherever located), to Burma, and (2) the provision, directly or indirectly to persons in Burma of insurance services, investment or brokerage services, banking services, money remittance services; loans, guarantees, letters of credit or other extensions of credit or the service of selling or redeeming traveler’s checks, money orders and stored value. Q: Are there any other categories of people whose assets might be blocked based on these regulations against Burma? A: Yes, President Bush has expanded the sanctions to include any person who has been responsible for, or participated in human rights abuses related to political repression in Burma; any person who has been engaged in activities facilitating public corruption by senior officials of the Burmese Government; any person who has materially assisted, sponsored, or provided financial, material, logistical or technical support for, or goods or services in support of, the Burmese Government, the State Peace and development Council, the Union Solidarity and Development Association and any successor entities; and any spouse or dependent child of any person whose property and interests are already blocked. Q: If a person falls under one of these categories, is it possible to have the restrictions lifted? A: Yes, after consultation with the Secretary of State, the Secretary of the Treasury is authorized to determine that circumstances no longer warrant inclusion of a person designated in these categories and declare that that person’s property and interests in property are no longer blocked. |