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US imposes new sanctions against Myanmar
Agence France Presse - May 16, 2014
The sanctions ban American companies and citizens from investing in the country. They were announced in a letter to Congress.
The sanctions also mean Americans cannot do business with Myanmar's leaders identified as having repressed democracy in the nation which was run by a tough military junta.
On Thursday, Mr Obama said Myanmar had made significant progress in a number of critical areas. These included the release of over 1,100 political prisoners, progress towards a nationwide ceasefire, legalisation of unions, steps to improve the country's labor standards, and allowing greater freedom of association and expression.
However, Mr Obama said the US had to renew the trade and business sanctions because Myanmar still posed "an unusual and extraordinary threat to the national security and foreign policy of the United States".
"The political opening remains nascent, and concerns persist regarding ongoing conflict and human rights abuses in ethnic minority areas, particularly in Rakhine State, and the continued role of the military in the country's political and economic activities," Mr Obama said.
Mr Obama became the first US president to visit Myanmar in 2012.
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