Regulatory Alerts2024-04-18 | 2024-08366Added · Updated
Publication of Directive 1 Under Executive Order 14014 of February 10, 2021
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) publishes Directive 1 under Executive Order 14014, which prohibits U.S. persons from providing, exporting, or reexporting financial services to or for the benefit of the Myanma Oil and Gas Enterprise (MOGE). This prohibition, effective December 15, 2023, applies unless licensed or otherwise authorized by OFAC. The directive also prohibits any transaction that evades or avoids these prohibitions or any conspiracy to violate them.
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