Australia Implements Bilateral Financial Sanctions against Burmese Regime

The Government has implemented bilateral financial sanctions targeted against members of the Burmese regime and their associates and supporters, following the announcement by the Prime Minister on 27 September. Financial sanctions have been imposed against 418 individuals, including members of the State Peace and Development Council, Cabinet Ministers and senior military figures.

Australia’s bilateral financial measures have the effect of prohibiting transactions involving the transfer of funds or payments to, by the order of, or on behalf of specified Burmese regime figures and supporters without the specific approval of the Reserve Bank of Australia (RBA).

They are the strongest financial measures available under existing Australian legislation against countries or individuals that are not subject to UN Security Council sanctions.

These measures are implemented by the RBA under the Banking (Foreign Exchange) Regulations 1959. Details of the sanctioned individuals are available at the Reserve Bank of Australia and Department of Foreign Affairs and Trade websites.

Australia has consistently urged the Burmese regime to work towards genuine democratic reform and national reconciliation, and to afford all Burmese citizens international standards of human rights. Along with Australia’s long-standing tight visa restrictions and ban on defence exports, these new measures are designed to put further pressure on the regime and its supporters, while avoiding harm to the people of Burma.

Media Inquiries: Mr Downer's office 02 6277 7500 - Departmental Media Liaison 02 6261 1555