Media Release
| Number | 2008-23 |
|---|---|
| Date | 22 October 2008 |
| Embargo | For Immediate Release |
Banking (Foreign Exchange) Regulations 1959 Sanctions Against Burma – Amendment to the Annex
The Reserve Bank of Australia, following a directive from the Australian Government under the Banking (Foreign Exchange) Regulations 1959, currently administers financial sanctions against senior members of the Burmese regime and their associates and supporters. The list of persons subject to sanctions includes current and key former members of the ruling State Peace and Development Council, current and key former ministers, senior military officers, prominent business associates of the Burmese regime, and immediate family members of these individuals.
The Australian Government has reviewed the list of persons subject to financial sanctions and has directed the Reserve Bank to remove 18 persons and add 63 new persons to the Annex of names. Amendments have also been made to 142 entries on the previous list. Attachment A provides details of these amendments. The updated Annex now contains 463 names.
Any transactions involving the transfer of funds or payments to, by the order of, or on behalf of any person listed in the Annex are prohibited without prior approval from the Reserve Bank.
Enquiries:
Manager, Media Office
Information Department
Reserve Bank of Australia
SYDNEY
Phone: +61 2 9551 9720
Fax: +61 2 9551 8033
E-mail: rbainfo@rba.gov.au
