[Federal Register Volume 88, Number 136 (Tuesday, July 18, 2023)]
[Rules and Regulations]
[Page 45816]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-15201]



[[Page 45816]]

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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 525


Publication of Burma Sanctions Regulations Web General License 5

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of a web general license.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing one general license (GL) issued pursuant 
to the Burma Sanctions Regulations: GL 5, which was previously made 
available on OFAC's website.

DATES: GL 5 was issued on June 21, 2023. See SUPPLEMENTARY INFORMATION 
for additional relevant dates.

FOR FURTHER INFORMATION CONTACT:
    OFAC: Assistant Director for Licensing, 202-622-2480; Assistant 
Director for Regulatory Affairs, 202-622-4855; or Assistant Director 
for Compliance, 202-622-2490.

SUPPLEMENTARY INFORMATION:

Electronic Availability

    This document and additional information concerning OFAC are 
available on OFAC's website: https://ofac.treasury.gov.

Background

    On June 21, 2023, OFAC issued GL 5 to authorize certain 
transactions otherwise prohibited by the Burma Sanctions Regulations, 
31 CFR part 525. The GL was made available on OFAC's website (https://ofac.treasury.gov) when it was issued. The GL has an expiration date of 
August 5, 2023. The text of the GL is provided below:

OFFICE OF FOREIGN ASSETS CONTROL

Burma Sanctions Regulations

31 CFR part 525

GENERAL LICENSE NO. 5

Authorizing the Wind Down of Transactions Involving Myanma Investment 
and Commercial Bank or Myanma Foreign Trade Bank

    (a) Except as provided in paragraph (b) of this general license, 
all transactions prohibited by Executive Order 14014 that are 
ordinarily incident and necessary to the wind down of transactions 
involving Myanma Investment and Commercial Bank (MICB), Myanma 
Foreign Trade Bank (MFTB), or any entity in which MICB or MFTB owns, 
directly or indirectly, individually or in the aggregate, a 50 
percent or greater interest, are authorized through 12:01 a.m. 
eastern daylight time, August 5, 2023, provided that any payment to 
a blocked person must be made into a blocked account in accordance 
with the Burma Sanctions Regulations, 31 CFR part 525 (BuSR).
    (b) This general license does not authorize any transactions 
otherwise prohibited by the BuSR, including transactions involving 
any person blocked pursuant to the BuSR other than the blocked 
persons described in paragraph (a) of this general license, unless 
separately authorized.

Andrea M. Gacki,
Director, Office of Foreign Assets Control.

    Dated: June 21, 2023.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2023-15201 Filed 7-17-23; 8:45 am]
BILLING CODE 04810-AL-P