Financing Postponed in United States

Export-import Bank Financing Postponed in the History of U.S. Economic Sanctions Imposed against China

Expired

Date of the sanction(s): FEBRUARY 28, 1996

Amidst reports that China had shipped ring magnets to Pakistan in 1995, and was otherwise supporting Pakistan’s nuclear weapons program, the Clinton Administration asked the Export-Import Bank to postpone any financing for United States companies planning to export to China until March 23, 1996 [51].

Some Observations

The month-long postponement expired, and the Export-Import Bank was not expected to take up any China financing in the month of April.

Developments

Other sanctions are being considered, and United States-China negotiations are underway regarding future Chinese technology exports.

Sanctions by Authority:

Sec. 2(b)(2) of the Export-Import Bank Act of 1945 [P.L. 79-173; 12 U.S.C. 635(b)(2)]

Occasion(s) Detailed

See April 24, 1996, for reinstatement of sanction ; see also May 10, 1996, for lifting of sanction

Note: Based on the China: U.S. Economic Sanctions Report.

Resources

Notes and References

1. 51 Smith, Jeffrey R. and Ann Devroy. “U.S. Asks China to End Shipments.” Washington Post, February 28, 1996. p. A23.