DHAKA: The US has lifted more of its economic sanctions on Myanmar to gesture its support for ongoing political revolution after decades of military rule.

The US removed 10 state-owned companies in the banking, timber and mining industries from the blacklist, BBC reports on Wednesday (May 18).

However, most restrictions on trade and investment with Myanmar’s still-powerful army remained in place.

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.

BDST: 1312 HRS, May 18, 2016
SAS/RR