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Obama Eases U.S. Sanctions On Myanmar

July 11, 2012

U.S. President Barack Obama has eased sanctions against Myanmar to allow U.S. companies to invest there, calling the move a "strong signal" of support for political reform in the country.

However, Obama said Washington remained concerned about the lack of investment transparency as well as the military's role in Myanmar's economy and made clear that U.S. firms would be required to make detailed disclosures on their dealings there.

Obama's statement was issued shortly after the arrival there of the first U.S. ambassador, Derek Mitchell, to Burma in two decades.

Based on reporting by AFP and Reuters

Source: http://www.rferl.org/content/obama-eases-us-sanctions-on-myanmar/24642360.html

Copyright (c) 2012. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036.