The announcement from Obama came after his meeting with his fellow Nobel laureate and Myanmar Foreign Minister Aung San Suu Kyi at the Oval Office of the White House.
"In part because of the progress that we've seen over the last several months, I indicated, after consulting with Daw Suu, that the US is now prepared to lift sanctions that we have imposed on Myanmar for quite some time. It is the right thing to do in order to ensure that the people of Myanmar see rewards from a new way of doing business and a new government," Obama said.
The State Department said announcement during the historic visit of Suu Kyi is a testament to the tremendous change Myanmar has undergone in the past few years.
Myanmar now has democratically-elected civilian leadership for the first time in over half a century, and is focused on bringing peace and national reconciliation, economic prosperity and social welfare, and respect for human rights to its people, it said.
"I believe the President said in the coming days (sanctions would be lifted)," White House Press Secretary Josh Earnest said during his daily news conference.
Earnest said what substantively has changed is that the reason that this national emergency was placed into effect in the first place was concern about the undemocratic conduct of the military government that previously ruled Myanmar.
"Much of the concern in the United States was rooted in the way that that military government was treating Aung San Suu Kyi. She was imprisoned in her own house," he said.
"That said, we continue to want to encourage the pursuit of additional Democratic reforms as many have noted. There still is a -- an undo role that the military plays in the government, there. They have about 25 per cent of the legislative seats. So that's an indication that there are additional Democratic reforms that we'd like to see them pursue.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
