US lifts sanctions on Myanmar |
US President Barack Obama has issued an executive order to lift economic sanctions on Myanmar. The move came after Obama`s announcement that the US was ready to lift sanctions on the Asian country during Myanmar State Counsellor Aung San Suu Kyi`s visit to Washington last month.Obama said he has determined that "it is necessary to terminate the national emergency" with regard to Myanmar.The move eased restrictions on Myanmar`s financial institutions, allowed certain transactions related to US individuals living in the country, and removed seven state-owned enterprises and three state-owned banks from the US blacklist.
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