U.S. eases sanctions on Myanmar in bid to promote reforms

The United States eased some sanctions on Myanmar on Tuesday to support ongoing political reforms, but maintained most of its economic restrictions in an effort to punish those Washington sees as hampering the country's newly elected government.

U.S. officials said they were easing sanctions to encourage the "historic" progress in Myanmar, including the formation of the country's first democratically elected government in more than 50 years.

The moves included removing Myanmar state-owned banks from a U.S. blacklist and the lifting of sanctions against seven key state-owned timber and mining companies. (Courtesy of firstpost.com)