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Enforcement of the Iran-Libya Sanctions ACT and Increasing Security Threats from Iran: Hearing Before the Subcommittee on the Middle East and Central - Hardcover
- PublisherGovernment Printing Office
- Publication date2003
- ISBN 10 0160711150
- ISBN 13 9780160711152
- BindingHardcover
- LanguageEnglish
- Number of pages50
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Enforcement of the Iran-Libya Sanctions Act and Increasing Security Threats from Iran: Hearing Before the Subcommittee on the Middle East and Central Asia of the Committee on International Relations, House of Representatives, One Hundred Eighth.
Published by
U. S. Government Printing Office, Washington, DC, 2003
ISBN 10: 0160711150
ISBN 13: 9780160711152
Used
Wraps
First Edition
Seller: Ground Zero Books, Ltd., Silver Spring, MD, U.S.A.
Seller rating 5 out of 5 stars
Wraps. Condition: Very good. No dust jacket. iii, 50 p. Continutation of title: Congress, First Session, June 25, 2003. Serial No. 108-59. From Wikipedia: "The Iran and Libya Sanctions Act of 1996 (ILSA) was a 1996 act of Congress that imposed economic sanctions on firms doing business with Iran and Libya. On September 30, 2006, the act was renamed to the Iran Sanctions Act (ISA), as it no longer applied to Libya, and extended until December 31, 2011. As of March 2008, ISA sanctions had not been enforced against any non-US company; the act allows the president to waive sanctions on a case-by-case basis, though this waiver is subject to renewal every six months. Despite the restrictions on American investment in Iran, FIPPA provisions apply to all foreign investors, and many Iranian expatriates based in the US continue to make substantial investments in Iran. United States Department of State report states that "ILSA was introduced in the context of a tightening of U.S. sanctions on Iran during the first term of the Clinton administration." In the year leading up to passage of the act, President Bill Clinton had issued several executive orders with respect to Iran, including Executive Order 12957 of March 15, 1995, banning U.S. investment in Iran's energy sector, and Executive Order 12959 of May 6, 1995, which banned U.S. trade with and investment in Iran. These were intended to respond to the Iranian nuclear program and Iranian support for terrorist organizations, including Hezbollah, Hamas, and Palestine Islamic Jihad. The Act targeting both U.S. and non-U.S. business making certain investments in Iran. Under ILSA, all foreign companies that provide investments over $20 million for the development of petroleum resources in Iran will be imposed two out of seven possible sanctions, by the U.S. : denial of Export-Import Bank of the United States assistance; denial of export licenses for exports to the violating company; prohibition on loans or credits from U.S. financial institutions of over $10 million in any 12-month period; prohibition on designation as a primary dealer for U.S. government debt instruments; prohibition on serving as an agent of the United States or as a repository for U.S. government funds; denial of U.S. government procurement opportunities (consistent with World Trade Organization obligations); and a ban on all or some imports of the violating company. Presumed first edition/first printing. mnj. Seller Inventory # 66645
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