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United States Foreign Assets Kuwait

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NEWS
August 15, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
The U.S. government is freeing frozen Kuwaiti assets to allow the country's government-in-exile to pay for official expenses and, almost certainly, to reimburse Turkey for the heavy economic losses expected from that nation's trade embargo against Iraq. "We have already freed up the money for them to do their own government business," said Barbara Clay, a spokeswoman for the U.S. Treasury Department. The Treasury is in charge of enforcing the freeze on Kuwaiti assets in the United States.
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NEWS
March 9, 1991 | From a Times Staff Writer
President Bush urged government agencies and private sector employers on Friday to "do everything possible" to ease the return to civilian life of reservists and members of the National Guard who served on active duty during the Persian Gulf War. Under federal law, the returning soldiers are entitled to the jobs they left when called up for military service, or to equivalent positions.
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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.
BUSINESS
February 26, 1991 | From Associated Press
The Treasury Department announced Monday that seven Kuwaiti banks have been authorized, starting March 18, to draw on frozen assets to settle claims that were made before the Aug. 2 Iraqi invasion. After Iraq stormed into Kuwait, President Bush froze assets of both countries in the United States. The action was taken to ensure that Iraq could not take control of the funds.
NEWS
March 9, 1991 | From a Times Staff Writer
President Bush urged government agencies and private sector employers on Friday to "do everything possible" to ease the return to civilian life of reservists and members of the National Guard who served on active duty during the Persian Gulf War. Under federal law, the returning soldiers are entitled to the jobs they left when called up for military service, or to equivalent positions.
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.
NEWS
August 7, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
Threats by Iraq's new proxy government in Kuwait to nationalize foreign property are not causing undue alarm in the United States: There are few American assets in Kuwait and little foreign investment in the country in general. State and Commerce department officials in Washington said they could not come up with an estimate of the value of American investment in Kuwait.
BUSINESS
August 3, 1990 | MARIA L. La GANGA, TIMES STAFF WRITER
The highly secretive Kuwaiti government has extensive holdings throughout the world and in the United States--an estimated $80 billion in assets ranging from junk bonds and bank deposits to resort hotels and gas stations. On Thursday, the Bush Administration moved to freeze those holdings in an effort to protect them from the invading Iraqis. But that action raised more problems than it resolved.
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 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.
NEWS
August 15, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
The U.S. government is freeing frozen Kuwaiti assets to allow the country's government-in-exile to pay for official expenses and, almost certainly, to reimburse Turkey for the heavy economic losses expected from that nation's trade embargo against Iraq. "We have already freed up the money for them to do their own government business," said Barbara Clay, a spokeswoman for the U.S. Treasury Department. The Treasury is in charge of enforcing the freeze on Kuwaiti assets in the United States.
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 7, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
Threats by Iraq's new proxy government in Kuwait to nationalize foreign property are not causing undue alarm in the United States: There are few American assets in Kuwait and little foreign investment in the country in general. State and Commerce department officials in Washington said they could not come up with an estimate of the value of American investment in Kuwait.
BUSINESS
August 3, 1990 | MARIA L. La GANGA, TIMES STAFF WRITER
The highly secretive Kuwaiti government has extensive holdings throughout the world and in the United States--an estimated $80 billion in assets ranging from junk bonds and bank deposits to resort hotels and gas stations. On Thursday, the Bush Administration moved to freeze those holdings in an effort to protect them from the invading Iraqis. But that action raised more problems than it resolved.
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.
BUSINESS
February 26, 1991 | From Associated Press
The Treasury Department announced Monday that seven Kuwaiti banks have been authorized, starting March 18, to draw on frozen assets to settle claims that were made before the Aug. 2 Iraqi invasion. After Iraq stormed into Kuwait, President Bush froze assets of both countries in the United States. The action was taken to ensure that Iraq could not take control of the funds.
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 | 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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