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News: Update on Myanmar
News & Insights 5 March 2021
Written by
Following the coup in Myanmar on 1 February 2021, protests and strikes have been taking place throughout the country.
Following the coup in Myanmar on 1 February 2021, protests and strikes have been taking place throughout the country.
Ports remain open and operational, though members should note that there are reports of vessels trading to Myanmar experiencing delays due to apparent problems with customs clearances and restricted cargo movement. There are further reports that the protests and strikes have resulted in terminals being understaffed. Banks and government offices have also been closed.
We have been advised by our local correspondent, Spica Services, that cargo operations at Sule Port are taking longer than normal as the working gangs are required to stop early due to the curfew in place from 20:00 to 04:00 LT.
Separately, members should note that the US, UK, Canada, and EU have all imposed new sanctions against certain individuals for alleged human rights violations. Members should carry out due diligence to ensure compliance.
Members should contact their local agents for the latest information in Myanmar. If you have any questions about this alert, please contact your usual claims handler for further assistance.