EU to suspend Myanmar sanctions for 1 year

EU officials say the bloc will suspend most sanctions against Myanmar to assess the country's progress toward democracy.

Two officials say EU foreign ministers will announce the decision Monday in Luxembourg. They spoke on condition of anonymity to divulge information not yet officially announced.

The sanctions will be suspended for a year, with the possibility of a review in six months. They target more than 800 companies and nearly 500 people.

Myanmar, long a dictatorship, appears to be undergoing a remarkable transition. Last year, the junta ceded power to a new government that has embarked on widely praised reforms, including opening a dialogue with opposition leader Aung San Suu Kyi and allowing her to run for -- and win -- a seat in parliament.