Rule2024-08366
Publication of Directive 1 Under Executive Order 14014 of February 10, 2021
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
April 18, 2024
Issuing agencies
Treasury DepartmentForeign Assets Control Office
Abstract
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.
Full Text
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<title>Federal Register, Volume 89 Issue 76 (Thursday, April 18, 2024)</title>
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[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 [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[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: <a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>.
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
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</html>Indexed from Federal Register on April 18, 2024.
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