United States eased some sanctions on Myanmar to support political reforms and economic growth in the country but retained other measures to discourage human rights abuses and military trade with North Korea. The Treasury Department said in a statement yesterday that the moves include easing restrictions on the country's financial institutions, removing seven state owned companies from the US blacklist and extending a measure allowing shipments to go through ports and airports. But the United States also strengthened measures targeting Steven Law, a man already blacklisted for alleged ties to Myanmar's military. The Treasury added to its blacklist six companies owned 50 per cent or more by Law or the company he controls, Asia World. The US moves followed a landmark November election in which the party of Aung San Suu Kyi, the country's Nobel Peace Prize laureate, won a landslide victory.
News On AIR | May 18, 2016 5:28 PM
United States eases some sanctions on Myanmar