UK Myanmar sanctions: OFSI guidance on prohibitions & scope
The UK Office of Financial Sanctions Implementation (OFSI) published statutory guidance on the Myanmar sanctions regime, outlining its purposes, scope, and key prohibitions. This guidance clarifies which entities, individuals, and transactions fall under UK sanctions law relating to Myanmar, affecting businesses engaged in trade with or through Myanmar.
Photo: Elina Januska / Pexels# UK Myanmar Sanctions Regime: OFSI Statutory Guidance
The UK Office of Financial Sanctions Implementation (OFSI) has published statutory guidance on the Myanmar sanctions regime, setting out the legal framework, purposes, scope, and prohibitions that apply to UK persons and businesses.
Who Is Affected
The guidance applies to:
- UK persons (individuals and entities based in the UK)
- Persons operating within UK jurisdiction
- Any business conducting trade with Myanmar or Burmese entities
- Financial institutions processing transactions involving Myanmar-linked parties
Key Prohibitions
The Myanmar sanctions regime prohibits:
- Transactions with designated persons and entities
- Movement of funds to or from sanctioned parties
- Provision of financial services related to sanctioned individuals or organisations
- Trade in certain goods and services where prohibited
- Circumvention attempts or conspiracy to breach sanctions
The statutory guidance clarifies the scope of these restrictions and the obligations on UK businesses to screen counterparties, maintain compliance procedures, and report suspected violations to OFSI.
Compliance Obligations
Businesses must:
- Conduct due diligence on customers and transaction partners
- Screen names against the UK Sanctions List
- Maintain records of compliance checks
- Report suspected breaches to OFSI
- Implement ongoing monitoring systems
What this means for shippers
Freight forwarders, exporters, and e-commerce merchants must screen all Myanmar-related shipments and counterparties against the UK Sanctions List before accepting cargo or payment. Failure to do so exposes your business to civil penalties and criminal liability. Check every customer, supplier, and consignee now—do not proceed with Myanmar trade without documented compliance screening. /sanctions-screen
