Summary: S.2543 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for S.2543. Bill summaries are authored by CRS.

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Introduced in Senate (04/08/1992)

Amends the Foreign Relations Authorization Act, Fiscal Years 1992 and 1993 to set forth the Iran-Iraq Arms Non-Proliferation Act of 1992.

Declares that it is U.S. policy to oppose any transfer of goods or technology to Iraq or Iran whenever there is reason to believe that such transfer could contribute to that country's acquisition of chemical, biological, nuclear, or advanced conventional weapons.

Provides that sanctions against Iraq under the Iraq Sanctions Act of 1990 shall apply to Iran in the same manner, but prohibits the President from exercising a certain waiver authority (after certifying about changes in leadership, human rights improvement, and other specified matters) with respect to either country.

Prohibits, for a period of two years, U.S. procurement of goods from, and approval of export licenses for, any foreign person who transfers goods or technology so as to knowingly contribute to efforts by Iran or Iraq to acquire weapons or technology described by this Act. Authorizes the President, for any period of time, to prohibit the importation of articles from such person or from anyone who has equity in such person.

Imposes the following mandatory sanctions on foreign countries (third countries) that transfer goods or technology so as to knowingly contribute to such efforts by Iran or Iraq: (1) suspension of U.S. assistance (except for humanitarian assistance and food or agricultural commodities) for one year; (2) opposition to the extension of financial or technical assistance by international financial institutions for two years; (3) termination of U.S. obligations under any memorandum of understanding for the codevelopment or coproduction of items on the U.S. Munitions List; and (4) termination of technical exchange agreements and a prohibition on the export of technology to such countries.

Authorizes the President to impose the following discretionary sanctions with respect to third countries: (1) suspension of most-favored-nation status; (2) prohibitions on transactions involving property in which the sanctioned country has interest; (3) suspension or termination of air carrier transportation to or from the United States; and (4) prohibitions on the loading or unloading of freight in the United States if a vessel enters a sanctioned country to engage in trade.

Waives any sanction under this Act if the President reports to the Congress that a sanction would jeopardize national security interests.