Impact of ILSA on Iran (US Sanctions)
Article from: OGEL 2 (2003), in Roundup of Articles
Summary
On 4 August 1996, the President of the United States Signed into law a bill which later came to be known as 'Iran-Libya Sanction Act of 1996' ('ILSA') imposing, inter alia , sanctions on persons making certain investments directly and significantly contributing to the enhancement of the ability of Iran or Libya to develop its petroleum resources. In August 2001, President Bush signed the ILSA Extension Act into law. By the application of this law the Government of the United States expected the governments and nationals of other States to refrain from investing in petroleum ...