ABSTRACT

India and Pakistan: Current U.S. Economic Sanctions [Updated October 12, 2001]   [open pdf - 57KB]

"In 1998, India and Pakistan each conducted tests of nuclear explosive devices, drawing world condemnation. The United States and a number of India's and Pakistan's major trading partners imposed economic sanctions in response. Most U.S. economic sanctions were lifted or eased within a few months of their imposition, however, and Congress gave the President the authority to remove all remaining restrictions in 1999. The sanctions were lifted incrementally. President Bush issued a final determination on September 22, 2001, to remove the remaining restrictions, finding denying export licenses and assistance not to be in the national security interests of the United States. Today, the United States imposes no economic sanctions against India. Pakistan continues to be denied U.S. foreign assistance as a result of its military overthrowing its democratically elected government in 1999, and for falling into arrears in servicing its debt to the United States in 2000. U.S. and Pakistani representatives signed an agreement to reschedule the debt on September 24; sanctions can be lifted 30 days after Congress is so notified. The Senate passed S. 1465 on October 4, 2001, which would remove the impediments on foreign assistance for Pakistan for the next two fiscal years, if that aid is granted as part of the war against international terrorism. On September 23, 2001, the President issued Executive Order 13224 to block property and transactions with 27 organizations or individuals who commit, threaten to commit, or support terrorism. The Secretary of the Treasury added another 39 entities and individuals to the list on October 12, 2001, in part to include the 22 persons listed among the Federal Bureau of Investigation's Most Wanted. Some of the organizations listed are based in Pakistan and others may have ties to that country."

Report Number:
CRS Report for Congress, RS20995
Author:
Publisher:
Date:
2001-10-12
Copyright:
Public Domain
Retrieved From:
U.S. Dept. of State, Foreign Press Centers: http://fpc.state.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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