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N.Y. Bans Deals With Links to Myanmar

May 15, 1997|(Evelyn Iritani)

Unocal Corp. and other U.S. companies operating in Myanmar, formerly known as Burma, suffered another major setback when the New York City Council voted 50 to 0 in favor of a bill prohibiting city agencies from purchasing goods or services, signing construction contracts or making bank deposits with companies involved in the troubled Southeast Asian nation. The action, which follows a recent decision by the Clinton administration to ban new U.S. investment in Myanmar, could affect billions of dollars' worth of business done by the nation's largest city. Mayor Rudolph Giuliani has 30 days to veto the law, an action that could be overridden by a two-thirds vote of the council. Similar selective purchasing laws against Myanmar's repressive military regime have been passed by 10 cities--including San Francisco, Oakland and Santa Monica--one county and the state of Massachusetts.

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