§ 537.532 - Certain transactions incident to exportations to or from Burma authorized; certain transactions incident to the movement of goods within Burma authorized.

§ 537.532 Certain transactions incident to exportations to or from Burma authorized; certain transactions incident to the movement of goods within Burma authorized.

(a) Certain transactions incident to exportations to or from Burma authorized. Except as provided in paragraph (c), all transactions otherwise prohibited by §§ 537.201 and 537.202 that are ordinarily incident to an exportation to or from Burma of goods, technology, or non-financial services, as defined in paragraph (f) of this section, are authorized, provided the exportation is not to, from, or on behalf of a person whose property and interests in property are blocked pursuant to § 537.201(a).

(b) Unblocking of certain property previously blocked as part of a transaction incident to an exportation to or from Burma authorized. U.S. financial institutions, as defined in § 537.320, are authorized to engage in all transactions necessary to unblock and return property blocked as part of a transaction on or after April 1, 2015 that would have qualified as authorized had it been engaged in under paragraph (a) of this section. U.S. financial institutions unblocking property pursuant to this section must submit a report to the Department of the Treasury, Office of Foreign Assets Control, Attn: Sanctions Compliance & Evaluation Division, 1500 Pennsylvania Avenue NW., Annex, Washington, DC 20220 within 10 business days from the date such property is unblocked. Such reports shall include the following:

(1) A copy of the original blocking report filed with OFAC pursuant to § 501.603(b)(1) of this chapter;

(2) The date the property was unblocked;

(3) If applicable, the amount unblocked;

(4) The name of the party to whom the blocked property was returned; and

(5) A reference to this general license as the legal authority under which the property was unblocked and the blocked property was returned.

(c) Paragraphs (a) and (b) of this section do not authorize:

(1) The unblocking of any property or interests in property that were blocked pursuant to § 537.201(a) prior to April 1, 2015.

(2) A U.S. financial institution to advise or confirm any financing by a person whose property and interests in property are blocked pursuant to § 537.201(a).

(d) Certain transactions incident to the movement of goods within Burma authorized. Except as provided in paragraph (e) of this section, all transactions otherwise prohibited by §§ 537.201 and 537.202 that are ordinarily incident to the movement of goods within Burma are authorized, provided the goods are not being sent to, from, or on behalf of a person whose property and interests in property are blocked pursuant to § 537.201(a).

(e) Paragraph (d) of this section does not authorize:

(1) The unblocking of any property or interests in property that were blocked pursuant to § 537.201(a).

(2) A U.S. financial institution to advise or confirm any financing by a person whose property and interests in property are blocked pursuant to § 537.201(a).

(f) For the purposes of this section, the term non-financial services means all services other than those listed in § 537.305.

Note to § 537.532:

See § 537.529 for a general license authorizing the exportation or reexportation of financial services to Burma.

[81 FR 31171, May 18, 2016]