US President Barack Obama on Friday 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 Counselor Aung San Suu Kyi's visit to Washington last month.
In a letter to Congress, Obama said that he has determined that "it is necessary to terminate the national emergency" with regard to Myanmar.
"I have determined that the situation that gave rise to the national emergency with respect to Burma (Myanmar) has been significantly altered by Burma's (Myanmar's) substantial advances to promote democracy," Obama said in a letter to Congress.
The Treasury Department said in a statement that as a result of Obama's announcement, the economic and financial sanctions administered by the Department of the Treasury's Office of Foreign Assets Control were no longer in effect.
Myanmar has made significant strides in recent years, "including choosing a civilian-led, democratically elected government," said Adam Szubin, acting US Under Secretary of Treasury.
newz.gr
8/10/16
The move came after Obama's announcement that the US was ready to lift sanctions on the Asian country during Myanmar State Counselor Aung San Suu Kyi's visit to Washington last month.
In a letter to Congress, Obama said that he has determined that "it is necessary to terminate the national emergency" with regard to Myanmar.
"I have determined that the situation that gave rise to the national emergency with respect to Burma (Myanmar) has been significantly altered by Burma's (Myanmar's) substantial advances to promote democracy," Obama said in a letter to Congress.
The Treasury Department said in a statement that as a result of Obama's announcement, the economic and financial sanctions administered by the Department of the Treasury's Office of Foreign Assets Control were no longer in effect.
Myanmar has made significant strides in recent years, "including choosing a civilian-led, democratically elected government," said Adam Szubin, acting US Under Secretary of Treasury.
newz.gr
8/10/16
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