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U.S. Lifts Economic Sanctions on Myanmar

The United States announced the lifting of 19 years-long economic sanctions on Myanmar on October 7. President Barack Obama also ordered to revoke the ban on trade benefits on the Southeast Asian nation. By means of an executive order, the American president terminated the ‘national emergency’ declaration issued in 1997 that served as the basis for imposing economic sanctions on Myanmar. “The situation that gave rise to the emergency order has been significantly altered by Myanmar’s substantial advances to promote democracy, including historic elections in November 2015”, Obama said in a letter to US House and Senate speakers.

The cancelling of economic sanctions comes after Myanmar’s State Counsellor and Minister for Foreign Affairs Aung San Suu Kyi met with Obama in September during her State visit to the States. There arose mixed views on the lifting of U.S. sanctions on Myanmar.