Unfrozen Assets

Unfrozen Assets

Update: 2025-08-19
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Episode #381: Vicky Bowman, the former UK Ambassador to Myanmar and past director of the Myanmar Centre for Responsible Business (MCRB), explains what sanctions are meant to do - prevent harm and promote reform, rather than punish - and how Myanmar’s “opaque information ecosystem” makes this challenging.

She recalls that in the early 2000s, compiling sanctions lists was difficult, with EU diplomats sometimes relying on public donation plaques or even the Yellow Pages to identify names of people and companies. While noting that identification and evidence have improved since then, and that stronger coordination now exists among allies in shaping their sanctions policies, she emphasizes the continued importance of due process for those targetted, including to petition for their removal. Concerning the recent delistings that stirred public outrage, she notes that the original reasoning that put three of the delisted subjects on the U.S. list had not been considered equally compelling by the U.K. or E.U.

Sanctions, she says, take different forms: there are targetted measures such as arms embargoes and “dual-use” controls on goods with civilian and military uses, as well as measures against individuals like asset freezes and visa bans. There are also more general sanctions and measures impacting the wider economy, such as removal of tariff preferences and suspension of development aid.

Bowman also details the possible “spillover” harms of sanctions. At the macro level, sanctions can lead companies to exit, and impact jobs and the wider economy. At the micro level, they can impact jobs in, and services provided by, sanctioned firms. Sanctions on named individuals can also cause collateral damage to completely unrelated individuals due to confusion about Myanmar’s naming culture.

Concerning the practice of sanctioning family members of regime figures, especially adult children, and the desire for punishment, rather than prevention, Bowman reflects that it could be considered to resemble the collective punishment practices used by the Nazis, known as Sippenhaft. She questions whether Western democracies should “sink to the same level” or take the “when they go low, we go high” approach of Michelle Obama.

Bowman also reflects on the future for responsible business in Myanmar. She notes that the desire for ‘bottom-up federalism’ should avoid fragmenting the laws and institutions needed to drive responsible business practices including well-enforced human rights based laws, transparent procurement processes, functioning courts, and effective anti-corruption bodies.

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