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U.S. sanctions Burmese government (
Subject: U.S. sanctions Burmese government (fwd)
WASHINGTON, May 22 (UPI) -- The Clinton administration is announcing
sanctions against the government of Burma over human rights violations
that will bar U.S. investment in the Asian nation.
The sanctions, which had been threatened by the administration weeks
ago, are to take effect at midnight Washington time.
In a letter to Congress, President Clinton says ``recent actions by
the regime in Rangoon constitute large-scale repression of the
democratic opposition committed by the government of Burma.''
A White House source says the action by Clinton will prevent new
investment in Burma and will also hamper further growth for at least one
company that recently entered a deal to expand its efforts to explore
and develop gas fields off the Burmese coast.
The new sanctions will prevent that corporation, Unocal, from moving
forward with its expansion. The administration official, speaking on the
condition of anonymity, said Unocal ``should have seen it coming.''
Under the sanctions, U.S. companies cannot:
-enter a contract that includes the economic development of resources
located in Burma;
-enter a contract as a third party to a deal in Burma;
-purchase a share of ownership, including an equity interest, in the
economic development of resources located in Burma;
-or enter into a contract providing for the participation in
royalties, earnings, or profits in the economic development of resources
located in Burma.
Copyright 1997 by United Press International.
All right reserved.