With the publication of Commission Regulation (EC) No 481/2007 in the Official Journal of the European Union, (O.J. L111, 28.4.2007, p.50) on 28 April 2007, the Commission of the European Communities has amended the list in Annex III of Council Regulation (EC) No 817/2006 of those subject to the financial sanctions applicable to certain individuals related to important government functions in Burma/Myanmar and to persons associated with them. The list of targeted persons set out in the Annex to Commission Regulation (EC) No 481/2007 replaces the list in Annex III to Council Regulation (EC) No 817/2006.

All funds or economic resources belonging to the persons listed in Annex III to Council Regulation (EC) No 817/2006, as amended and replaced, must be frozen. No funds or economic resources are to be made available, directly or indirectly, to or for the benefit of the listed persons. Financial institutions and other bodies and persons in the UK must check whether they maintain any accounts or otherwise hold any funds for the individuals named and, if so, they should freeze the accounts or other funds and report the accounts or other funds and amounts frozen to the Bank of England.

The Annex to this news release sets out in more detail the significant amendments made by the Commission of the European Communities in Commission Regulation (EC) No 481/2007 compared with the list in Annex III to Council Regulation (EC) No 817/2006, which take the form of additional names, deleted names and updated identifiers.

Details of this Commission Regulation, previous Regulations, related Bank Notices and news releases regarding Burma/Myanmar and a consolidated list of individuals and entities subject to these and other UK financial sanctions regimes are available from the Financial Sanctions pages.- Bank of England News Release