U.s. President Obama 's The United States Essay

1003 Words Jun 8th, 2016 null Page
The Obama administration declared on Tuesday, May 17th that they were lifting sanctions on 10 state-run companies and banks in the effort of recognizing Myanmar’s strides toward a democratic government, the country that formerly knew as Burma. The motion will take effect on Wednesday, May 18th, by removing the sanction, it will allow individuals, banks and companies to do business with all Burmese financial institutions, making the flow of exports in and out of Myanmar more accessible. They will be removing few state-owned business and banks in Myanmar from the list of sanctioned enterprises, that includes timber and mining companies and gem concerns that are now owned by civilian rather than the military. This is one of president Obama’s latest attempt to lessen restrictions on a secluded country by using diplomacy conjoined with an alleviation of sanctions to press toward greater rapport. President Obama applied the same proposition to last year’s agreement with Iran, relaxed sanction in return for limitations on Iran’s nuclear program. It has also been the incentive behind the opening with Cuba. The president did mention despite the progress, Myanmar poses an “extraordinary threat” to U.S. interests and will tighten the sanction on trade and investment restrictions on the military and one individual. Steven Law, a Burmese business tycoon got punished by the treasury Department in 2008 for supporting the military junta. Under the military Mr. Law made his fortune and…

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