The European Council on the 14 May adopted Regulation (EU) No 409/2012 that will give full legal effect to the suspension of EU sanctions against Burma/Myanmar. EU High Representative for Foreign Affairs and Security Policy has welcomed the announcement as opening “a new chapter” in the EU’s trade and investment relationship with the country.
The suspension of EU restrictions follows agreement by European ministers, at the Foreign Affairs Council on 23 April 2012, to re-open trade and investment across a range of sectors including logging, timber processing, and mining of precious stones. Only the embargo on arms and equipment that can be used for internal repression will remain in force in until 30 April 2013. Going forward it will be interesting to see the extent to which the U.S. Government follows the move by the EU to ease restrictions.
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