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U.S. Bans New Investments In Burma
- Subject: U.S. Bans New Investments In Burma
- From: BURMAJAPAN@xxxxxxx
- Date: Thu, 24 Apr 1997 03:18:00
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
><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
> 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
> 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.<