Prohibition on Export-import Bank Projects

Prohibition on Export-import Bank Projects in United States

Waived: Prohibition on Export-import Bank Projects in the History of U.S. Economic Sanctions Imposed against China

Note: the date of this economic sanction is: SEPTEMBER 4, 1981

On September 4, 1981, President Reagan determined that it was in the national interest for the Export-Import Bank to extend two credits for $57 million to China in connection with purchasing turbine generator components, boiler components, air preheaters, and related technology. 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 $50 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 81-12, September 4, 1981 (46 F.R. 45927)

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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