News Release
Financial Sanctions: Burma/Myanmar

9 December 2002

With the publication of Commission Regulation (EC) No 1883/2002 in the Official Journal of the European Communities on 23 October 2002 the list of persons related to important governmental functions in Burma/Myanmar whose funds are to be frozen has been amended.

The Bank of England, on behalf of HM Treasury, therefore announces that with effect from 23 October 2002 all funds belonging to the persons listed in Annex II to Council Regulation (EC) No 1081/2000, as substituted by the Annex to Commission Regulation (EC) No 1883/2002, must be frozen. No funds are to be made available directly or indirectly to or for the benefit of the listed persons. Financial institutions must check whether they maintain any account for the individuals named and, if so, they should freeze the accounts and report the accounts and amounts frozen to the Bank of England.

Copies of the Council Regulation, the Commission Regulation and the related Bank Notices are available from the Financial Sanctions Unit at the Bank of England.

Note to Editors

The European Council imposed sanctions against Burma/Myanmar on 22 May 2000 (Council Regulation (EC) 1081/2000). As well as introducing a freeze of funds of named individuals, the Regulation prohibits the sale, supply and export to Burma/Myanmar of equipment which might be used for internal repression or terrorism.