THE WHITE HOUSE
Office of the Press Secretary (Berlin, Germany) ________________________________________________________________________ For Immediate Release May 13, 1998
Statement by the Press Secretary
On Wednesday, May 13, 1998, the President reported to Congress that he had imposed sanctions on India as a consequence of that country's May 11 nuclear test explosion. These sanctions were required by Section 102 of the Arms Export Control Act, otherwise known as the Glenn Amendment. The sanctions imposed are as follows:
*termination of assistance under the Foreign Assistance Act of 1961, except for humanitarian assistance for food or other agricultural commodities:
*termination of all foreign military financing under the Arms Export Control Act:
*denial of any credit, credit guarantees, or other financial assistance by any department, agency or instrumentality of the United States government:
*the United States opposition to the extension of any loan for financial or technical assistance by any international financial institution:
*prohibiting United States banks from making any loan or providing any credit to the government of India, except for the purposes of purchasing food or other agricultural commodities; and
*prohibiting export of specific goods and technology subject to export licensing by the Commerce Department.
Finally, the Secretary of State is making a similar determination under Section 2 (b) (4) of the Export-Import Bank Act of 1945; thereafter, the Board of Directors of the Export-Import Bank may not give approval to guarantee, insure, or extend credit, or participate in the extension of credit in support of United States exports to India.