Washington plans to renew most of its sanctions against Myanmar when they terminate next week, though the US will make some adjustments aimed at boosting investment and trade with the Asian country.
An announcement on extending considerable portions of the International Emergency Economic Powers Act may be made as soon as May 17 prior to an upcoming visit to Myanmar by US Secretary of State John Kerry on May 22, the Guardian reported Saturday citing senior American officials and congressional aides.
The development comes as the US Treasury Department has drastically eased sanctions against Myanmar’s government, infamous for carrying out massive human rights abuses against its Rohingya Muslim minority, by issuing general licenses that give companies and investors exemptions to sanctions that target over 100 individuals and businesses, including some of Myanmar’s biggest business figures. (Courtesy of eturbonews.com)
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