EU Commission publishes guidance on the sanctions regime imposed in Myanmar/Burma
On 11 May 2021, the European Commission published a Guidance Note on the implementation of specific provisions of Council Regulation (EU) 401/2013 (Regulation), concerning the EU’s restrictive measures in view of the situation in Myanmar/Burma.
The Guidance Note answers questions that are likely to arise in the implementation of the financial sanctions provided for in this sanctions regime. It includes information about the scope of the financial restrictions therein and their application. It also explains in detail the responsibilities of those who must comply with the Regulation, covering notions such as ownership and control, and the functioning of derogations.
The aim is to provide guidance on certain provisions of the Regulation for the purpose of ensuring their uniform implementation by EU operators and national competent authorities.
The Regulation can be found here.
Our recent blog posts on the EU’s sanctions in Myanmar/Burma can be found here.
Our recent blog post on the UK’s Overseas Territories Myanmar sanctions order can be found here.