EU COMMISSION GUIDANCE NOTE ON THE IMPLEMENTATION OF CERTAIN PROVISIONS OF ITS BURMA/MYANMAR SANCTIONS

On 11 May, the European Commission published guidance notes, which answers questions such as what sanctions are in place, who do they apply to and what does the freezing of assets entail.  The Note provides guidance on compliance obligations, and exemptions (or derogations), including those pertaining to humanitarian assistance. It also makes clear that EU operators should exercise caution when engaging with an entity owned/controlled by a listed person, and the guidance sets out how to determine the ownership/control of an entity

https://ec.europa.eu/info/sites/default/files/business_economy_euro/banking_and_finance/documents/210511-restrictive-measures-myanmar-guidance-note_en.pdf

https://ec.europa.eu/info/sites/default/files/business_economy_euro/banking_and_finance/documents/210511-restrictive-measures-myanmar-guidance-note-press-release_en.pdf

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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