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U.S. Bans New Investments In Burma

In a message dated 97-04-22 13:27:04 EDT, you write:

>Subj:	U.S. Bans New Investments In Burma
>Date:	97-04-22 13:27:04 EDT
>From:	AOLNewsProfiles@xxxxxxx
>
><HTML><PRE><I>.c The Associated Press</I></PRE></HTML>
>
>      By GEORGE GEDDA
>      WASHINGTON (AP) - Accusing Burma of ``large-scale repression,''
>the Clinton administration today placed a ban on new U.S.
>investment in that country.
>      Secretary of State Madeleine Albright said Burma's military
>leaders have ignored repeated U.S. appeals to ease repression and
>move toward democratic rule.
>      President Clinton, in a statement released aboard Air Force One
>as he headed to inspect flood damage in North Dakota, said,
>``Beyond its abysmal human rights record, Burma remains the world's
>leading producer of opium and heroin. The United States and other
>members of the international community have firmly and repeatedly
>taken steps to encourage democratization and human rights in
>Burma.''
>      Albright said Burmese authorities have clamped down on political
>activities, arrested peaceful demonstrators and harassed those
>advocating a shift to democratic rule.
>      Albright announced the sanction on behalf of Clinton, who was
>authorized by 1996 legislation to prohibit new private U.S.
>investment in the event of ``large-scale repression of or violence
>against'' Burma's democratic opposition.
>      Today's action follows a series of sanctions announced
>previously. Albright said the new measures ``will deal a further
>blow to investor confidence'' in Burma.
>      The administration has been seeking with limited success support
>from other Asian countries for a strong stance against Burma.
>      Burmese Nobel Peace Prize-winner Aung San Suu Kyi appealed for
>international sanctions, citing what she said was increased
>repression against the country's pro-democracy movement.
>      Albright hinted at sanctions against Burma during a speech at
>the U.S. Naval Academy last week.
>      ``Unless the clouds of repression are lifted, they will face
>investment sanctions under U.S. law,'' she said of Burma's leaders.
>      U.S. efforts to make the pressure on Burma multilateral haven't
>worked, and the president believes taking unilateral action now not
>only fulfills the law, but might stimulate pressure by other
>countries, an administration official told The New York Times.
>      Japan and the Association of Southeast Asian Nations have argued
>against unilateral sanctions, the Times said today. The United
>States is the fourth-largest investor in Burma. The largest U.S.
>investor is Unocal Corp., which has a $1.2 billion partnership with
>Total of France to explore and develop natural gas fields off the
>coast.
>      AP-NY-04-22-97 1308EDT
>      <HTML><PRE><I><FONT COLOR="#000000" SIZE=2> Copyright 1997 The
>Associated Press.  The information 
>contained in the AP news report may not be published, 
>broadcast, rewritten or otherwise distributed without 
>prior written authority of The Associated Press.<