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U.S. Allows Companies to Invest in Burma

HeadlineJul 12, 2012

The Obama administration has granted permission for U.S. companies to invest in Burma, the latest and most significant in a series of moves to ease sanctions following apparent reforms and the election of Burmese pro-democracy leader Aung San Suu Kyi to parliament. The move would open up Burma’s oil-and-gas sector to U.S. companies, despite a call by Suu Kyi for foreign companies to boycott the state-run oil company until it becomes more open and accountable. Human rights groups have slammed the decision, saying the United States appears to have caved to industry pressure.

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