Export-import Bank Programs in United States
Prohibited Export-import Bank Programs in the History of U.S. Economic Sanctions Imposed against China
Note: the status of this economic sanction is: Waived
Date of the sanction(s): OCTOBER 15, 1986
Section 8 of the 1986 Export-Import Bank Act amended section 2(b)(2) of the Export-Import Bank Act of 1945 to prohibit Export-Import Bank guarantees, insurance, or credits for any purchases by Marxist-Leninist countries. In cases determined by the President to be in the national interest, the prohibition could be waived. The People’s Republic of China was on the list of countries identified as being Marxist-Leninist. In addition, Tibet, occupied by Chinese troops since 1952, was also on the list.
Sanctions by Authority:
Sec. 2(b)(2) of the Export-Import Bank Act of 1945 [P.L. 79-173], as amended and restated by Sec. 8 of the Export-Import Bank Act Amendments of 1986 [P.L. 99-472] [12 U.S.C. 635(b)(2)]
Occasion(s) Detailed
See January 6, 1964, for original sanction ; see also December 19, 1989, for waiver of sanction ; see also March 7, 1988, September 29, 1988, September 30, 1994, April 21, 1995, and April 21, 1995, for one-time waivers where amount exceeds $50 million ; see also February 28, 1996, for modification of sanction
Note: Based on the China: U.S. Economic Sanctions Report.
Waived: Prohibition on Export-import Bank Programs in the History of U.S. Economic Sanctions Imposed against China
Note: the date of this economic sanction is: APRIL 2, 1980
President Carter determined it was in the national interest for the Export-Import Bank to guarantee, insure, extend credit, and participate in the extension of credit in connection with the purchase or lease of any product or service by, for use in, or for sale or lease to, the People’s Republic of China.
Sanctions by Authority:
Sec. 2(b)(2) of the Export-Import Bank Act of 1945, as amended [P.L. 79- 173; 12 U.S.C. 635(b)(2)]; Presidential Determination 80-15, April 2, 1980 (45 F.R. 26017)
Occasion(s) Detailed
See January 6, 1964, for original sanction ; see also October 15, 1986, for continuation of sanction
Note: Based on the China: U.S. Economic Sanctions Report.
Waived: Prohibition on Export-import Bank Programs in the History of U.S. Economic Sanctions Imposed against China
Date of the sanction(s): APRIL 15, 1993
President Clinton determined that it was in the national interest for the Export-Import Bank to extend a loan of million to China in connection with the purchase of United States equipment and services for Qidashan Iron Ore Mine and Benefaction Plant in Liaoning Province. Section 2(b)(2)(D)(ii) of the Export-Import Bank Act of 1945 requires the President to issue a separate determination when loans equal or exceed million.
Sanctions by Authority:
Sec. 2(b)(2) of the Export-Import Bank Act of 1945, as amended [P.L. 79-173; 12 U.S.C. 635(b)(2)]; Presidential Determination 93-19, April 15, 1993 (58 F.R. 21889)
Occasion(s) Detailed
See January 6, 1964, for original sanction ; see also October 15, 1986, for continuation of sanction
Note: Based on the China: U.S. Economic Sanctions Report.
Waived: Prohibition on Export-import Bank Programs in the History of U.S. Economic Sanctions Imposed against China
Date of the sanction(s): APRIL 21, 1995
President Clinton determined that it was in the national interest for the Export-Import Bank to extend a loan of 8 million to China in connection with the purchase of United States equipment and services for the construction of a power plant in Dandong, in Liaoning Province. Section 2(b)(2)(D)(ii) of the Export-Import Bank Act of 1945 requires the President to issue a separate determination when loans equal or exceed million.
Sanctions by Authority:
Sec. 2(b)(2) of the Export-Import Bank Act of 1945, as amended [P.L. 79-173; 12 U.S.C. 635(b)(2)]; Presidential Determination 95-19, April 21, 1995 (60 F.R. 22449)
Occasion(s) Detailed
See January 6, 1964, for original sanction ; see also October 15, 1986, for continuation of sanction
Note: Based on the China: U.S. Economic Sanctions Report.
Waived: Prohibition on Export-import Bank Programs in the History of U.S. Economic Sanctions Imposed against China
Date of the sanction(s): NOVEMBER 11, 1996
President Clinton determined that it was in the national interest for the Export-Import Bank to extend a loan of about 9 million to China in connection with the purchase of United States equipment and services for the Yangcheng coal-fired power plant in Shanxi Province. Section 2(b)(2)(D)(ii) of the Export-Import Bank Act of 1945 requires the President to issue a separate determination when loans equal or exceed million.
Sanctions by Authority:
Sec. 2(b)(2) of the Export-Import Bank Act of 1945, as amended [P.L. 79-173; 12 U.S.C. 635(b)(2)]; Presidential Determination 97-3, November 11, 1996 (61 F.R. 59807)
Occasion(s) Detailed
See January 6, 1964, for original sanction ; see also October 15, 1986, for continuation of sanction
Note: Based on the China: U.S. Economic Sanctions Report.
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