[Congressional Record Volume 142, Number 104 (Tuesday, July 16, 1996)]
[Senate]
[Page S7917]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     IRAN OIL SANCTIONS ACT OF 1996

  Mr. LOTT. Mr. President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of calendar 450, H.R. 3107.
  The PRESIDING OFFICER. The clerk will report.
  The legislative clerk read as follows:

       A bill (H.R. 3107) to impose sanctions on persons exporting 
     certain goods or technology that would enhance Iran's ability 
     to explore for, extract, refine, or transport by pipeline 
     petroleum resources, and for other purposes.

  The PRESIDING OFFICER. Is there objection to the immediate 
consideration of the bill?
  There being no objection, the Senate proceeded to consider the bill.


                           Amendment No. 4588

(Purpose: To make sanctions against investments that contribute to the 
   development of Libya's petroleum resources mandatory rather than 
                             discretionary)

  Mr. LOTT. Mr. President, I understand that there is an amendment at 
the desk offered by Senators Kennedy and D'Amato. I ask for its 
immediate consideration.
  The PRESIDING OFFICER. The clerk will report.
  The legislative clerk read as follows:

       The Senator from Mississippi [Mr. Lott] for Mr. Kennedy, 
     for himself and Mr. D'Amato, proposes an amendment numbered 
     4588.

  Mr. LOTT. Mr. President, I ask unanimous consent that further reading 
of the amendment be dispensed with.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment is as follows:
       On page 7, line 8, strike all through page 8, line 20 and 
     insert:
       (b) Mandatory Sanctions With Respect to Libya.--
       (1) Violations of prohibited transactions.--Except as 
     provided in subsection (f), the President shall impose 2 or 
     more of the sanctions described in paragraphs (1) through (6) 
     of section 6 if the President determines that a person has, 
     with actual knowledge, on or after the date of the enactment 
     of this Act, exported, transferred, or otherwise provided to 
     Libya any goods, services, technology, or other items the 
     provision of which is prohibited under paragraph 4(b) or 5 of 
     Resolution 748 of the Security Council of the United Nations, 
     adopted March 31, 1992, or under paragraph 5 or 6 of 
     Resolution 883 of the Security Council of the United Nations, 
     adopted November 11, 1993, if the provision of such items 
     significantly and materially--
       (A) contributed to Libya's ability to acquire chemical, 
     biological, or nuclear weapons or destabilizing numbers and 
     types of advanced conventional weapons or enhanced Libya's 
     military or paramilitary capabilities;
       (B) contributed to Libya's ability to develop its petroleum 
     resources; or
       (C) contributed to Libya's ability to maintain its aviation 
     capabilities.
       (2) Investments that contribute to the development of 
     petroleum resources.--Except as provided in subsection (f), 
     the President shall impose 2 or more of the sanctions 
     described in paragraphs (1) through (6) of section 6 if the 
     President determines that a person has, with actual 
     knowledge, on or after the date of the enactment of this Act, 
     made an investment of $40,000,000 or more (or any combination 
     of investments of at least $10,000,000 each, which in the 
     aggregate equals or exceeds $40,000,000 in any 12-month 
     period), that directly and significantly contributed to the 
     enhancement of Libya's ability to develop its petroleum 
     resources.

  Mr. KENNEDY. Mr. President, I welcome the Senate's action to approve 
the amendment that Senator D'Amato and I offered to restore mandatory 
sanctions against Libya.
  The Government of Libya continues to harbor the suspects indicted for 
the terrorist bombing of PanAm flight 103 over Lockerbie, Scotland, in 
1988, in which 270 people were killed, including 189 Americans. Colonel 
Qadhafi, the Libyan dictator, continues to defy the world community by 
refusing to surrender the suspects for trial.
  Congress should not compromise with terrorism. The same sanctions 
that apply to Iran should apply to Libya too. I urge the House to join 
the Senate in standing firm for this fundamental principle. Foreign oil 
companies that traffic with terrorists should not expect subsidies from 
the United States to help them produce oil in Libya. Oil industry 
profits are not more important than justice for the victims of that 
atrocity.
  Mr. LOTT. Mr. President, I ask unanimous consent that the amendment 
be agreed to.
  The amendment (No. 4588) was agreed to.
  Mr. LOTT. Mr. President, I ask unanimous consent that the bill be 
deemed read a third time and passed, as amended, the motion to 
reconsider be laid upon the table; further, that the Senate insist on 
its amendment and request a conference with the House, and the Chair be 
authorized to appoint conferees on the part of the Senate and, finally, 
that any statements relating to the Senate's action be inserted at the 
appropriate place in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill (H.R. 3107), as amended, was deemed read the third time and 
passed.
  The Chair appointed the following conferees from the Committee on 
Banking, Housing and Urban Affairs: Mr. D'Amato, Mr. Mack, and Mr. 
Sarbanes; from the Committee on Finance, Mr. Roth and Mr. Moynihan.

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