Russian Foreign Minister Sergie Lavrov arrived Wednesday in Myanmar to meet his counterpart Wunna Muang Lwin. Both sides have agreed to establish a joint panel to assess economic coordination in the future.
Myanmar received international commendations for a series of democratic reforms that began with general elections in 2010. Lavrov said the Kremlin supports the country's political course, adding it opens the door to further cooperation.
Moscow, he said, saw no need for sanctions on Myanmar to remain in place.
"There is no justification for any kind of sanctions under the current conditions," he was quoted by Russia's state-run news agency RIA Novosti as saying.
U.S. President Barack Obama signed an executive order last year authorizing U.S. investments in Myanmar in light of political reforms. Certain limitations were made for the country's Defense Ministry and for sanctioned entities and individuals.
A consortium of advocacy groups signed a declaration expressing "grave concern" over the decision to allow U.S. investors into the country. They said it would likely worsen the human rights situation in Myanmar.