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Obama orders US economic sanctions on Myanmar lifted

Saturday, Oct 8, 2016,11:03 IST By metrovaartha A A A

Washington | President Barack Obama is lifting US economic sanctions on the former pariah state of Myanmar.

The White House says Obama signed an executive order lifting the sanctions. He had announced plans to do so last month, when Myanmar’s new civilian leader, Aung San Suu Kyi, visited the Oval Office.

Obama’s move marks the culmination of years of rapprochement between the US and Myanmar that Obama has worked to facilitate. The Southeast Asian nation has pursued political reforms over the last five years following decades of oppressive military rule.

The US has already eased broad economic sanctions on Myanmar, including prohibitions on investment and trade. But the US had retained more targeted restrictions on military-owned companies and officials and associates of the former ruling junta.