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Burma

Volume 451: debated on Wednesday 1 November 2006

To ask the Secretary of State for Foreign and Commonwealth Affairs what estimate has she made of the value in sterling of the assets of Burmese regime officials frozen in each year since the ban’s inception; and if she will make a statement. (97932)

Those on the assets freeze list are unlikely to hold bank accounts in the UK or the EU. The current reported value of assets frozen by UK authorities on the basis of the EU restrictive measures applied to Burma is £3,576.65. The value of assets frozen in previous years were:-

£

2003

0.40

2004

3,548.43

2005

3,576.65

The freezing of assets of the Burmese regime and its associates is one of a number of such measures intended to exert pressure on the regime to enact democratic reforms. By denying regime figures access to the EU and its financial centres, including Switzerland where the EU’s policy directly influenced the Swiss to take similar measures, the EU sends a powerful message that the Burmese Government current policies are unacceptable.

All EU member states are required to implement the restrictive measures set out in the EU Common Position.