WASHINGTON – The United States has eased financial sanctions to enable private U.S. groups to do humanitarian and development work in Myanmar.
The Treasury Department made the announcement Tuesday, rewarding the military-dominated country also known as Burma for democratic reforms.
It is one of several steps the Obama administration is taking after Aung San Suu Kyi’s opposition party won a landslide victory in historic by-elections.
The U.S. is also planning to ease restrictions to allow some investment in the impoverished country and export of other financial services. The U.S. retains tough sanctions on trade.
Next week the European Union is expected to discuss suspending its economic sanctions. Such a step by the EU could put pressure on the U.S. to do likewise, for competitive business reasons.