[Federal Register Volume 89, Number 76 (Thursday, April 18, 2024)]
[Rules and Regulations]
[Pages 27668-27669]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-08366]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Part 525


Publication of Directive 1 Under Executive Order 14014 of 
February 10, 2021

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Publication of one directive.

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SUMMARY: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) is publishing a Burma Sanctions Directive in the Federal 
Register. The Directive, issued pursuant to a February 10, 2021 
Executive Order, was made available on OFAC's website when it was 
issued.

DATES: Directive 1 under Executive Order 14014, ``Prohibitions Related 
to Financial Services to or for the Benefit of Myanma Oil and Gas 
Enterprise,'' was issued on October 31, 2023.

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: www.treas.gov/ofac.

Background

    On February 10, 2021, the President, invoking the authority of, 
inter alia, the International Emergency Economic Powers Act (50 U.S.C. 
1701 et seq.), issued Executive Order (E.O.) 14014 (86 FR 9429, 
February 12, 2021).
    In E.O. 14014, the President found the situation in and in relation 
to Burma, and in particular the February 1, 2021, coup, in which the 
military overthrew the democratically elected civilian government of 
Burma and unjustly arrested and detained government leaders, 
politicians, human rights defenders, journalists, and religious 
leaders, thereby rejecting the will of the people of Burma as expressed 
in elections held in November 2020 and undermining the country's 
democratic transition and rule of law, constitutes an unusual and 
extraordinary threat to the national security and foreign policy of the 
United States and declared a national emergency to deal with that 
threat.
    Section 1 of E.O. 14014 blocks all property and interests in 
property that are in the United States, that hereafter come within the 
United States, or that are or hereafter come within the possession or 
control of any United States person of any foreign person determined by 
the Secretary of the Treasury, in consultation with the Secretary of 
State, to, among other things, be a political subdivision, agency, or 
instrumentality of the Government of Burma.
    On October 31, 2023, OFAC issued Directive 1 under E.O. 14014, 
``Prohibitions Related to Financial Services to or for the Benefit of 
Myanma Oil and Gas Enterprise.'' In Directive 1, the Director of OFAC, 
in consultation with the Department of State, determined that the 
Myanma Oil and Gas Enterprise (MOGE) is a political subdivision, 
agency, or instrumentality of the Government of Burma, and that the 
following activities by a U.S. person are prohibited on or after 
December 15, 2023, except to the extent provided by law, or unless 
licensed or otherwise authorized by OFAC: The provision, exportation, 
or reexportation, directly or indirectly, of financial services to or 
for the benefit of MOGE or its property or interests in property.
    The text of Directive 1 under E.O. 14014 is provided below.

OFFICE OF FOREIGN ASSETS CONTROL

Directive 1 Under Executive Order 14014

Prohibitions Related to Financial Services to or for the Benefit of 
Myanma Oil and Gas Enterprise

    Pursuant to sections 1(a)(iv), 1(b), and 8 of Executive Order 
14014, ``Blocking Property With Respect to the Situation in Burma'' 
(the ``Order''), the Director of the Office of Foreign Assets 
Control (OFAC) has determined, in consultation with the Department 
of State that the Myanma Oil and Gas Enterprise (MOGE) is a 
political subdivision, agency, or instrumentality of the Government 
of Burma, and that the following activities by a U.S. person are 
prohibited on or after December 15, 2023 except to the extent 
provided by law, or unless licensed or otherwise authorized by OFAC:
    the provision, exportation, or reexportation, directly or 
indirectly, of financial services to or for the benefit of MOGE or 
its property or interests in property.
    All other activities with MOGE or involving MOGE's property or 
interests in property are permitted, provided such activities are 
not otherwise prohibited by law, the Order, or any other sanctions 
program implemented by OFAC.
    Except to the extent otherwise provided by law or unless 
licensed or otherwise authorized by OFAC, the following are also 
prohibited: (a) any transaction that evades or avoids, has the 
purpose of evading or avoiding, causes a violation of, or attempts 
to violate any of the prohibitions contained in this Directive; and 
(b) any conspiracy formed

[[Page 27669]]

to violate any of the prohibitions in this Directive.

Bradley T. Smith,

Director, Office of Foreign Assets Control.

October 31, 2023.

Bradley T. Smith,
Director, Office of Foreign Assets Control.
[FR Doc. 2024-08366 Filed 4-16-24; 8:45 am]
BILLING CODE 4810-AL-P