EU suspends most Myanmar sanctions

The European Union agreed on Monday to suspend most of its sanctions against Myanmar for a year despite a dispute over a parliamentary oath between the army-backed ruling party and pro-democracy leader Aung San Suu Kyi. 
In the first clear sign of friction since Suu Kyi's party swept historic by-elections, the ruling party on Monday rejected her demand to replace the words "safeguard the constitution" with "respect the constitution" in the oath. Suu Kyi and party colleagues refused to take their seats at the opening of parliament, denting the image of political transformation Myanmar hopes to portray. 
(...)
One EU diplomat said the sanctions suspension did not mean Myanmar was a fully democratic country, and that it was up to the people there to work out problems like the oath. 
(...)
The suspension, which does not apply to a separate arms embargo, is likely to go into effect this week. It will allow European companies to invest in Myanmar, which has significant natural resources and borders economic giants China and India. The EU had frozen the assets of nearly a thousand companies and institutions, and banned almost 500 people from entering the EU. It also prohibited military-related technical help and banned investment in the mining, timber and precious metals sectors.
The EU is rewarding a shift that has seen many political prisoners freed and a range of repressive measures lifted.
More...