Freezing of Assets: Myanmar

Treasury written question – answered on 24th February 2021.

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Photo of Hilary Benn Hilary Benn Labour, Leeds Central

To ask the Chancellor of the Exchequer, what the total value of assets frozen to date is from UK sanctions applied on 16 Burmese security and military personnel.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Office of Financial Sanctions Implementation (OFSI) undertakes an annual review of frozen assets in the UK, requiring all persons or institutions that hold or control frozen assets in the UK to report to OFSI. Details of assets reported to OFSI in 2020 are not yet available and will be published in OFSI’s 2020-2021 Annual Review.

Details of assets reported to OFSI in 2019 were published in OFSI’s 2019-2020 Annual Review. As of September 2019, £12.5 billion of frozen funds across all regimes were reported to be held by UK institutions. This figure is provided on an aggregate basis so as not to disclose the value of funds held by particular individuals.

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