United States of America has blacklisted a lot of nations around the globe on account of sponsoring terrorism, barring US companies and individuals from commencing in trade and business with them.
However, recently the administration of President Barack Obama has allowed certain US firms to do business with blacklisted countries including Iran on humanitarian basis.
10,000 deals worth billion of dollars have been made to allow trade including the food giants, Kraft’s, Mars and Pepsi. The US treasury department has granted licenses to the firms for trade involving humanitarian, medical and agriculture aid. The items to be exported also include chewing gums, cigarettes, sauces, pop corns and body supplements.
The exemptions from certain trade sanctions are also extended to blacklisted countries like Cuba and North Korea. Sudan was prompted to be removed from the list provided it guarantees no support for international terrorism. China has also asked the US to ease restrictions on import of high tech items.
According to US administration, such deals are necessary to serve the foreign policy goals of the US. In recent reports, the US has ended its restrictions on the export of high technology goods to India to further enhance cooperation in defense and space science technology.
Such leniency in sanctions will serve US foreign policy goals or not but definitely help totally deprived countries to avoid worse scenarios like famine.
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