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Case No. BU-2013-302061-1
Angela Mariana Freyre, Senior Vice President and General Counsel
The Export-Import Bank of the United States
811 Vermont Avenue, N.W.
Washington, D.C. 20571
Dear Ms. Freyre:
This responds to your correspondence of May 15, 2013 (the “Application”), to the Office of Foreign Assets Control (“OFAC”), on behalf of the Export-Import Bank of the United States (“Ex-Im Bank”), an independent agency of the United States, requesting interpretive guidance as to the applicability of General License No. 16 of July 11, 2012 (“GL 16”) and an exemption in Executive Order 13619 of July 11, 2012 (“E.O. 13619”), to Ex-Im Bank’s proposed activities supporting the financing of U.S. exports to Burma.
Except as otherwise authorized, the Burmese Sanctions Regulations, 31 C.F.R. 537 (the “BSR”), generally prohibit the exportation or reexportation of financial services...
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1) Background
Case No. BU-2013-302061-1 contains some consequential "ordinarily incident" determinations as it relates to financial services, in particular financing activities, incident to the exportation of goods. The letter also contains important determinations speaking to the scope of the exemptions and licenses covering “transactions for the conduct of the official business of the U.S. Government by employees, grantees, or contractors thereof.” Read in conjunction with Case No. BU-2013-302061-1, which is a sort of "companion case" (letter issued to the Overseas Private Investment Corporation (“OPIC”) concerning the same sanctions regulations and "official business" exemption, and dated close in time to this letter). Refer generally to General Note on Exemptions and General Licenses for the “Official Business” of the U.S. Government (and/or United Nations) and Employees, Contractors, or Grantees Thereof.
The Export-Import Bank of the United States (Ex-Im Bank or Ex-Im)...