EU lifts sanctions against Burma/Myanmar, eases measures against Syria and Libya, and tightens sanctions against North Korea

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I. Introduction -

The EU has updated its sanctions measures against Burma/Myanmar, Syria, North Korea and Libya.

For Burma/Myanmar, the Council has decided to lift all economic sanctions, while keeping the existing arms embargo in place for one more year. For Syria, the Council has eased certain EU sanctions measures, including the oil embargo, by allowing Member State authorisation (following consultation of the Syrian opposition) of certain types of transactions with the aim of helping civilians and supporting the opposition.

For North Korea, the EU has introduced amendments to reflect newly adopted UN sanctions measures, including the addition of parties to the UN list of designated persons and entities subject to an asset freeze. Finally, with respect to Libya, the EU Council has decided to delist one person whose assets have been frozen and to allow assistance to the Libyan government for security/disarmament reasons.

Please see full alert below for more information.

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Topics:  EU, Frozen Assets, Sanctions, United Nations

Published In: Energy & Utilities Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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