WASHINGTON (AP) — The Obama administration on Tuesday eased its targeted sanctions on Myanmar after its peaceful transition to a democratically elected government.
A new civilian government took power in April after the party of former political prisoner Aung San Suu Kyi swept historic elections, ending five decades of direct military rule.
The U.S. waived its longstanding bans on investment and trade in 2012 after Myanmar began political and economic reforms, but has retained restrictions on dozens of companies and individuals designated by Treasury's Office of Foreign Assets Control, because they oppose reform or are implicated in human rights abuses and military trade with North Korea.
[...] human rights activists and some U.S. lawmakers had urged President Barack Obama to renew his authority to impose sanctions under the International Emergency Economic Powers Act, which he did Tuesday.
