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US to renew sanctions framework on Burma

The United States plans to renew the bulk of its sanctions against Myanmar when they expire next week, but will make some changes aimed at boosting investment and trade reports Reuters.

Officials close to the US Secretary of State John Kerry, said that an announcement extending a majority of the International Emergency Economic Powers Act IEEPA ahead of Mr Kerry’s visit next week.

By renewing the legal framework for sanctions even as it eases some measures, Obama will offer the private sector more breathing room while maintaining pressure on its military which still holds significant political power, reports Reuters.

US officials speaking on the condition of anonymity said, Burmese President Aung San Suu Kyi supported the extension of US sanctions.

“We are looking to take steps to demonstrate our support for the new democratically elected government of Burma.. and that we’re taking the necessary steps to ensure that they succeed, that they can carry on economic developments and reforms. At the same time we want to do  that in a smart, measured way that gives us a range of options and flexibility to respond appropriately going forward,” said the officials.

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