ILSA perplexes foreign firms; provisions of the Iran and Libya Sanctions Act fail to give firms clear rules on taboo activities
Article Abstract:
The goal in enacting the Iran and Libya Sanctions Act of 1996 was to deprive Iran of oil income by forcing foreign companies to choose the United States or Iran as a trading partner. Sen Edward Kennedy added Libya to the act after the Pan Am 103 explosion because of a widely held belief that it resulted from a bomb set by Libyan terrorists. Implementation of the law without undue friction with trading partners will be challenging, for its strict enforcement might disrupt international economic relations. A case against ILSA before the World Trade Organization could cause irreparable harm to that body's dispute settlement mechanism.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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States that flout world opinion may incur loss
Article Abstract:
Foreign states and businesses who consider state human rights compliance when making investment and purchasing decisions could be effective enforcers of international norms. Virginia's Apr 14, 1998, execution of Paraguayan national Angel Breard was outright defiance of an International Court of Justice order demanding its delay. Paraguay had sued the US in that court arguing that Virginia authorities violated the Vienna Convention on Consular Relations by not notifying Breard of his right to contact Paraguayan consular officials on his arrest.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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The total S.A. case: meaning of "investment" under the ILSA
Article Abstract:
The 1996 Iran and Libya Sanctions Act (ILSA) creates sanctions on domestic or foreign investments in Iran oil production. The specific meaning of "investments" is open to interpretation, especially as to how it applies to contracts and resource development. The act may harm US and international efforts to reduce Iranian-sponsored terrorism, relations with other countries that invest in Iran, and Mideast peace talks progress.
Publication Name: American Journal of International Law
Subject: Law
ISSN: 0002-9300
Year: 1998
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