Senate Moves to Punish Trade With Iraq, Libya
The Senate moved Tuesday to punish foreign businesses that invest in Iran and Libya, two countries accused by the United States of sponsoring terrorism.
The bill, passed by a voice vote and backed by President Clinton, outlines sanctions to be imposed on foreign firms that invest $40 million or more a year to help develop oil and gas resources in Iran or Libya; helped develop Libya’s biological, chemical or nuclear weapon capacity; or violated U.N. embargoes on selling aviation and oil refining equipment to Libya.
For the record:
12:00 a.m. July 18, 1996 For the Record
Los Angeles Times Thursday July 18, 1996 Home Edition Part A Page 3 Metro Desk 1 inches; 27 words Type of Material: Correction
Anti-terrorism law--A headline in Wednesday’s editions of The Times misidentified the countries that are the focus of Senate anti-terrorism legislation. The countries are Iran and Libya.
The measure is intended to pressure Japan, European nations and others into helping to isolate the governments of Iran and Libya.
The House version of the bill passed 415 to 0 last month. The two chambers must work out a compromise measure.
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