WASHINGTON (CN) – President Obama has extended for a year the state of emergency regarding Burma issued by former President Bill Clinton in 1997.
The order prohibits any new investments by citizens or residents of the United States from investing in Burma, which has been ruled by a military junta since 1962. The prohibition does not apply to investments in place prior to 1997.
The provisions of the order have been extended annually since Clinton issued the order.
President Obama said that the continued actions and policies of the Burmese government continue to pose an “unusual and extraordinary threat to the national security and foreign policy of the United States.”
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