Obama lifted sanctions from Myanmar

Saturday, 8 October, 2016 - 14:45

President Barack Obama on Friday lifted U.S. economic sanctions on Myanmar.

Obama had announced plans to lift the sanctions last month, when Myanmar's new civilian leader, Nobel Peace Prize laureate Aung San Suu Kyi, visited the Oval Office. Suu Kyi concurred it was time to remove all the sanctions that had hurt the economy and urged Americans to come to the country and "to make profits."

The U.S. has already eased broad prohibitions on investment and trade but had retained more targeted restrictions on military-owned companies and officials and associates of the former ruling junta. U.S. companies and banks have remained leery of involvement in one of Asia's last untapped markets.

Friday's executive order lifts those restrictions. It removes the national emergency with respect to Myanmar — the executive order authorizing sanctions that has been renewed annually by U.S. presidents for two decades. It also lifts a ban on the importation of jadeite and rubies from Myanmar, and removes banking restrictions.

"Katehon" notes that Washington want to use own influence over Myanmar to establish more own tools of control in region especially against China.

Mayanma also known as second world producer of heroin after Afghanistan and there is serious problem with some ethnic tribes and discrimination against muslims.