Recent sanctions developments: EU relaxes certain Syrian sanctions and amends measures relating to North Korea, Iran and Tunisia; US relaxes Myanmar sanctions

The EU has recently published a new Regulation (Regulation 697/2013 of 22 July 2013 (“Regulation 697/2013”)) which amends Regulation 36/2012, the key piece of legislation setting out the EU’s sanctions against Syria. In our August Sanctions Update we analyse the new provisions and provide an update on other recent changes to EU and US sanctions. … Read more

UK: Myanmar (Burma) sanctions are lifted

As expected, the UK Government yesterday revoked the Burma/Myanmar (Financial Restrictions) Regulations 2009.  These regulations contained criminal penalties for breaches of financial sanctions.  The practical effect is that there are no more asset freezing and financial sanctions in respect of Myanmar.  However, the arms embargo remains in force for at least one more year. Read more

Temporary suspension of sanctions against Burma/Myanmar

On 14 May 2012 the Council of the EU finally adopted the Regulation required to implement its Decision of 26 April 2012 to suspend, for one year, the bulk of the restrictive measures applied to Burma/Myanmar in various forms since 1996. These relaxations follow the Council’s initial temporary suspension of limited aspects of the EU … Read more