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Compliance News: Further restrictions on Myanmar

EU enforces the sixth round of Sanctions against 9 individuals and 7 entities related to the continuing war in Myanmar/Burma.

Two years have passed since the civil war in Myanmar broke out in which the country has witnessed a distressing escalation of violence, human rights violations, and fears of peace, safety and stability.

The European Union this week continued their restrictions on private companies or entities supplying fuel, arms and funds to the military.

A press release published by the Council of the EU stated: “Other EU restrictive measures will remain in place: the embargo on arms and equipment and export restrictions on equipment for monitoring communications which might be used for internal repression.

“The export ban on dual-use goods for use by the military and border guard police, and the prohibition of military training and cooperation with the Tatmadaw.”

It continues to say: “The restrictive measures come in addition to the withholding of EU financial assistance directly going to the government and the freezing of all EU assistance that may be seen as legitimising the junta.”

The EU will continue their strong stance on outcomes such as “human rights human rights violations, including sexual and gender-based violence, the persecution of civil society, human rights defenders and journalists, attacks on the civilian population, targeting also children and persons belonging to ethnic and religious minorities across the country.”

The restrictions measures will add to the current total of 93 individuals and 18 entities with a designated approach to an asset freeze and travel bans designed to prevent them from entering EU territory.

https://www.consilium.europa.eu/en/press/press-releases/2023/02/20/myanmar-burma-eu-imposes-sixth-round-of-sanctions-against-9-individuals-and-7-entities/

For further information on the Financial Crime Market and / or Compliance Recruitment, please get in touch:

Taylor Catton – Compliance & Sanctions Specialist Recruiter

taylor@theriskpartners.com

The Risk Partners are a boutique Governance specialist recruiter, with Compliance & Risk Management at the heart of its activities. We live in a world where Governance steers the world through often challenging times. Our aim is to work with clients to ensure that you find the right people for your business. Please get in touch to discuss how we can help you.

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