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United States Foreign Assets Iraq

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NEWS
August 3, 1990 | TOM REDBURN, TIMES STAFF WRITER
The broad trade embargo that President Bush imposed on Iraq is not expected to have a major impact on that country's economy, analysts said Thursday, and Washington cannot push for worldwide sanctions without risking a recession at home. In theory, analysts said that Iraq's heavy economic dependence on selling oil abroad should make it highly vulnerable to the kind of economic sanctions that Bush--and other American Presidents--historically have relied upon to achieve their foreign policy goals.
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NEWS
August 20, 1990 | From The Times Washington Bureau
The impact of Iraq's invasion of Kuwait is rapidly spreading throughout the federal Establishment and officials in Washington are scrambling to keep up. MAJOR PORTFOLIO: An obscure branch of the Treasury Department won a major new role in high-stakes finance when President Bush froze the U.S. assets of Kuwait and Iraq. Responsibility for those funds fell to the Office of Foreign Assets Control and made its director, Rick Newcomb, one of the most powerful figures in American finance.
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NEWS
August 20, 1990 | From The Times Washington Bureau
The impact of Iraq's invasion of Kuwait is rapidly spreading throughout the federal Establishment and officials in Washington are scrambling to keep up. MAJOR PORTFOLIO: An obscure branch of the Treasury Department won a major new role in high-stakes finance when President Bush froze the U.S. assets of Kuwait and Iraq. Responsibility for those funds fell to the Office of Foreign Assets Control and made its director, Rick Newcomb, one of the most powerful figures in American finance.
BUSINESS
August 10, 1990 | JUBE SHIVER Jr., TIMES STAFF WRITER
Following the lead of British authorities, the U.S. Treasury Department has eased some of its restrictions and licensed Kuwait's huge investment arm to conduct normal operations in the United States. After Iraq's invasion of Kuwait on Aug. 2, President Bush signed an executive order barring trade with Iraq and freezing that country's U.S. assets. A second executive order signed at the same time froze Kuwaiti assets--a step taken to prevent Iraq from seizing Kuwaiti property in the United States.
NEWS
August 3, 1990 | KIM MURPHY, TIMES STAFF WRITER
Iraq said it had established a new provisional government in Kuwait on Thursday, sweeping its forces through the capital city and on toward Kuwait's rich oil fields with a warning that any attempts to thwart the invasion would leave a "graveyard" in the tiny Persian Gulf emirate.
BUSINESS
August 10, 1990 | JUBE SHIVER Jr., TIMES STAFF WRITER
Following the lead of British authorities, the U.S. Treasury Department has eased some of its restrictions and licensed Kuwait's huge investment arm to conduct normal operations in the United States. After Iraq's invasion of Kuwait on Aug. 2, President Bush signed an executive order barring trade with Iraq and freezing that country's U.S. assets. A second executive order signed at the same time froze Kuwaiti assets--a step taken to prevent Iraq from seizing Kuwaiti property in the United States.
NEWS
August 3, 1990 | From a Times Staff Writer
President Bush's executive order Thursday imposing economic sanctions against Iraq for its invasion of Kuwait affects billions of dollars in property and assets. The order blocks the sale or transfer of Iraqi government assets in the United States and imposes a trade embargo on Iraq. At the same time, it freezes Kuwaiti property to prevent its takeover by Saddam Hussein's regime in Iraq. "We call on all other states to undertake similar action," White House spokesman Roman Popadiuk said.
NEWS
August 3, 1990 | DAVID LAUTER, TIMES STAFF WRITER
President Bush embargoed all trade with Iraq and froze the nation's assets in the United States on Thursday while refusing to rule out the use of U.S. troops to rescue Kuwait from its Iraqi invaders. The trade embargo bars imports of oil from Iraq, which account for 3% to 4% of total U.S. oil supplies, officials said. The move also prohibits Iraq from buying U.S. grain and other foodstuffs, which represent the other chief element of trade between the two nations.
NEWS
August 3, 1990 | KIM MURPHY, TIMES STAFF WRITER
Iraq said it had established a new provisional government in Kuwait on Thursday, sweeping its forces through the capital city and on toward Kuwait's rich oil fields with a warning that any attempts to thwart the invasion would leave a "graveyard" in the tiny Persian Gulf emirate.
NEWS
August 3, 1990 | From a Times Staff Writer
President Bush's executive order Thursday imposing economic sanctions against Iraq for its invasion of Kuwait affects billions of dollars in property and assets. The order blocks the sale or transfer of Iraqi government assets in the United States and imposes a trade embargo on Iraq. At the same time, it freezes Kuwaiti property to prevent its takeover by Saddam Hussein's regime in Iraq. "We call on all other states to undertake similar action," White House spokesman Roman Popadiuk said.
NEWS
August 3, 1990 | DAVID LAUTER, TIMES STAFF WRITER
President Bush embargoed all trade with Iraq and froze the nation's assets in the United States on Thursday while refusing to rule out the use of U.S. troops to rescue Kuwait from its Iraqi invaders. The trade embargo bars imports of oil from Iraq, which account for 3% to 4% of total U.S. oil supplies, officials said. The move also prohibits Iraq from buying U.S. grain and other foodstuffs, which represent the other chief element of trade between the two nations.
NEWS
August 3, 1990 | TOM REDBURN, TIMES STAFF WRITER
The broad trade embargo that President Bush imposed on Iraq is not expected to have a major impact on that country's economy, analysts said Thursday, and Washington cannot push for worldwide sanctions without risking a recession at home. In theory, analysts said that Iraq's heavy economic dependence on selling oil abroad should make it highly vulnerable to the kind of economic sanctions that Bush--and other American Presidents--historically have relied upon to achieve their foreign policy goals.
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