News Release
Financial Sanctions: Burma/Myanmar
3 May 2005
With the publication of Commission Regulation (EC) No 667/2005 in the Official Journal of the European Union (O.J. L108, p.35) on 29 April 2005, the Commission of the European Communities has, amongst other things, renewed and extended the financial sanctions applicable to certain individuals related to important government functions in Burma/Myanmar and to persons associated with them, and to certain Burmese state-owned enterprises. The list of targeted persons set out in Annexes II and III of Regulation (EC) No 667/2005 replaces the list of targeted persons in Annexes III and IV to Council Regulation (EC) No 798/2004 dated 26 April 2004, as last amended by Commission Regulation (EC) No 300/2005 dated 22 February 2005.
The Bank of England, on behalf of Her Majesty’s Treasury, therefore announces that with effect from 29 April 2005 all funds or economic resources belonging to the persons listed in Annex III to Council Regulation (EC) No 798/2004 as replaced by Annex II to Commission Regulation (EC) 667/2005 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 and other bodies and persons in the UK must check whether they maintain any accounts or otherwise hold any funds for the individuals and entities named and, if so, they should freeze the accounts and report the accounts or other funds and amounts frozen to the Bank of England.
In addition, making financial loans or credits available to, and acquiring or extending a participation in, the Burmese state-owned enterprises listed in Annex IV to Council Regulation (EC) No 798/2004 as replaced by Annex III to Commission Regulation (EC) No 667/2005 is prohibited.
Copies of this Commission Regulation, previous Regulations
and related Bank Notices regarding the financial sanctions regime
against Burma/Myanmar are available from the Financial Sanctions
pages.
Key Resources
 |
Bank of England Notice |
|
Commission Regulation (EC) No 667/2005
of 28 April 2005 |
