13 May 1998
WHITE HOUSE REPORT, WEDNESDAY, MAY 13, 1998
(Potential scope of India sanctions) (270)
POTENTIAL SCOPE OF INDIA SANCTIONS
The White House released in Berlin May 13 the following set of figures
outlining the potential scope of sanctions imposed against India
because of its nuclear tests this week:
(begin White House text)
THE WHITE HOUSE
Office of the Press Secretary
May 13, 1998
POTENTIAL SCOPE OF INDIA SANCTIONS
The Glenn Amendment mandates --
1. Termination of bilateral assistance, except humanitarian items:
$51.3M AID development assistance (FY98) $91M PL-480 (FY98)
2. Termination of military sales and financing:
$775,000 FMS, IMET (FY98)
3. Termination of licenses for Munitions List items:
$476 million (approved since 1994) $41 million (licenses approved
CY97) $35 million (pending license requests)
4. Termination of credit & guarantees by any USG agency or
"instrumentality":
$2M TDA grants (pending)
$4B EX-IM guarantees (pending)
$10.2B OPIC (potential insurance and financing)
$20M Agric. Export Credit Guar. (potential)
5. Oppose loans/guarantees in International Financial Institutions:
$3.8B (upcoming IBRD, IDA, ADB loan approvals)
6. Prohibit US bank loans or credit to the Government of India (except
to purchase food or agricultural commodities):
$1.98B current loan exposure (voluntarily reported; actual amount may
be higher)
7. Prohibit exports of specific goods and technology under the Export
Administration Act (except for food, agricultural commodities, items
related to Congressional oversight of intelligence activity):
$12 million pending license requests. (CY 97 licenses totaled $151
million)
Note that the final numbers will depend on legal determinations as to
the precise scope of the sanctions.
(end text)
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