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Financial Sanctions: Burma

Thursday, 25 February 2021

This news release is issued to publicise the addition of five listings under the Burma sanctions regime and amendment to one existing entry.

The Burma (Sanctions) (EU Exit) Regulations 2019 (S.I. 2019/136) were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the freezing of funds and economic resources of certain persons, entities or bodies involved in the commission of serious human rights violations in Burma. The Burma (Sanctions) (EU Exit) Regulations 2019 have effect in the Isle of Man by the Burma Sanctions (Application) Regulations 2020 [SD 2020/0474].

The following entries have been added to the Consolidated List  and are now subject to an asset freeze.

  • Tin Aung SAN (Group ID: 14059)
  • Maung Maung KYAW (Group ID: 14060)
  • Aung Lin DWE (Group ID: 14061)
  • Moe Myint TUN (Group ID: 14062)
  •  Ye Win OO (Group ID: 14063)

 The following entry has been amended and is still subject to an asset freeze:

  •  Min Aung HLAING (Group ID: 13897)

Full details can be found in the attached Annex to this news release.

Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, the designated individuals. If so, they must freeze such accounts or other funds and, unless licensed by the Treasury, refrain from dealing with said funds or economic resources, and suspend the provision of any financial services. They must also report their findings to the FIU.

Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.

Further details of the sanctions regime related to Burma and links to the UK’s Consolidated List of Individuals and entities subject to other financial sanctions regimes may be found on the Customs and Excise pages of the Isle of Man Government website.

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