US Lifting Economic Sanctions on Myanmar

Myanmar was under Military rule earlier .This year Myanmar, also known as Burma, swore in its first democratically-elected government in over 50 years.

Nobel Laureate Aung San Suu Kyi, who spent years under house arrest, won a landslide victory in what was considered a largely free and fair election in November. Although the constitution bars her from becoming president, she still wields considerable influence.

Since the Country is slowly returning to democracy, the US has lifted more of its economic sanctions on Myanmar to signal its support for ongoing political reform after decades of military rule.

The US removed 10 state-owned companies in the banking, timber and mining industries from the blacklist.