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.
Key contacts
Andrew Cannon
Partner, Global Co-Head of International Arbitration and of Public International Law, London
Christian Leathley
Partner, Co-Head of the Latin America Group, Co-Head of the Public International Law Group, US Head of International Arbitration, London
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