1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web98-537 AUpdated December 16, 1998Bank Loan Denial for Nuclear Proliferation underSection 102(b) of the Arms Export Control Act asApplicable to India and PakistanM. Maureen MurphyLegislative Attor
2、neyAmerican Law DivisionSummaryAfter the President has determined that a non-nuclear-weapon state has detonateda nuclear explosive device, section 102(b) of the Arms Export Control Act requiresthat a number of sanctions be placed on that state including the prohibition of privatebank loans to the go
3、vernment of the country concerned. When the President respondedto the nuclear tests of India and Pakistan by invoking sanctions on May 13 and 28,immediate questions arose as to how the banking aspects of the sanctions would beconfigured. There is a strong U.S. banking presence in India involving man
4、y levels ofinteractions with Indian banking, trading, and development companies that areintertwined with the Indian government. This situation raises issues as to whethersanctions would extend to governmentally owned and controlled institutions. Section102(b) has never before been invoked. Its langu
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