US Eases Sanctions On 4 Myanmar Banks

Law360, New York (February 22, 2013, 6:51 PM EST) -- The U.S. eased restrictions on four Myanmar banks on Friday in response to the country's recent democratic and humanitarian reforms, a move that opens up the Southeast Asian nation's access to the U.S. financial system.

The U.S. Department of the Treasury issued a general license which permits U.S. companies and financial institutions to conduct transactions with Myanmar banks. Isolated for years from global trade, the country, also known as Burma, last year held its first free elections in decades.

"Increased access to Burma's banking system for...
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