30 April 2004

By Council Regulation (EC) No 798/2004, the Council of the European Union has, amongst other things, renewed and extended the financial sanctions applicable to certain individuals related to important governmental functions in Burma/Myanmar and to persons associated with them The list of targeted persons set out in Annex III of Regulation (EC) No 798/2004 amends and replaces the list of targeted persons in Annex II to Council Regulation (EC) No 1081/2000, as last amended by Commission Regulation (EC) No 2297/2003.

The Bank of England, on behalf of Her Majesty's Treasury, therefore announces that with effect from 30 April 2004 all funds and economic resources belonging to the persons listed in Annex III to Council Regulation (EC) No 798/2004, must be frozen. No funds or economic resources 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 this Council Regulation, and earlier Council and Commission Regulations, and the related Bank Notices regarding the financial sanctions regime against Burma/Myanmar are available from the Financial Sanctions pages.

Notes to Editors

The Council of the European Union introduced financial sanctions against certain individuals related to important governmental functions in Burma/Myanmar with effect from 24 May 2000 (Council Regulation (EC) No. 1081/2000). As well as introducing a freeze of funds of named individuals, the Regulation imposed an arms embargo, a travel ban and prohibited the sale, supply and export to Burma/Myanmar of equipment which might be used for internal repression or terrorism. The list of targeted persons in Annex II to Regulation (EC) No 1081/2000 was first extended by Commission Regulation (EC) No 1883/2002 of 22 October 2002 and subsequently by Commission Regulation (EC) No 1070 2003 of 20 June 2003 and Commission Regulation (EC) No 2297/2003 of 23 December 2003.

Following the expiry of Regulation (EC) No 1081/2000 on 29 April 2004, the restrictive measures against Burma have been replaced by Regulation (EC) No 798/2004 with effect from 30 April 2004. The amended and extended list of targeted persons is set out in Annex III to Council Regulation (EC) No 798/2004, published in the Official Journal of the European Union on 28 April 2004.

Key Resources

	Bank of England Notice 30 April 2004 Download PDF (69k)
	Commission Regulation (EC) No 798/2004 26 April 2004 Download PDF (173k)