[Federal Register Volume 69, Number 159 (Friday, October 8, 2004)]
[Notices]
[Page 60450]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-22736]


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DEPARTMENT OF STATE

[Public Notice 4856]


Bureau of Nonproliferation; Determination on Export-Import Bank 
Support for U.S. Exports to Libya

AGENCY: Bureau of Nonproliferation, Department of State.

ACTION: Notice.

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SUMMARY: Pursuant to section 2(b)(4) of the Export-Import Bank Act of 
1945, as amended, the President has determined and certified to 
Congress that it is in the national interest for the Export-Import Bank 
to guarantee, insure, or extend credit, or participate in the extension 
of credit in support of United States exports to Libya.

EFFECTIVE DATE: November 13, 2004.

FOR FURTHER INFORMATION CONTACT: Caroline R. Russell, Office of 
Regional Affairs, Bureau of Nonproliferation, Department of State 
((202) 647-9786).

SUPPLEMENTARY INFORMATION: In accordance with section 2(b)(4) of the 
Export-Import Bank Act of 1945, as amended, the Department of State 
determined that Libya has materially violated a safeguards agreement 
with the International Atomic Energy Agency (IAEA). This determination 
is based on the extensive Libyan nuclear activities conducted outside 
safeguards detailed in the IAEA Director General's February 20, 2004 
report to the IAEA Board of Governors. It is also supported by the 
decision of the IAEA Board that Libya's failure to meet the 
requirements of its safeguards agreement ``constituted noncompliance'' 
pursuant to Article XII.C. of the IAEA statute. As a result of this 
determination, under section 2(b)(4) of the Export Import Bank Act of 
1945, the Board of Directors of the Export Import Bank is prohibited 
from giving ``approval to guarantee, insure, or extend credit, or 
participate in the extension of credit in support of United States 
exports'' to Libya.
    The President has determined and certified to Congress pursuant to 
section 2(b)(4) that ``it is in the national interest'' to waive the 
restrictions in the law and allow the Export-Import Bank to support 
United States exports to Libya. This Presidential determination removes 
this impediment to Export-Import Bank support for United States exports 
to Libya beginning November 13, 2004 (45 days after the date the 
President's determination and certification was submitted to Congress). 
The Export-Import Bank should be consulted about other legal provisions 
that may continue to restrict Export-Import Bank support for United 
States exports to Libya.

    Dated: September 29, 2004.
Susan F. Burk,
Acting Assistant Secretary of State for Nonproliferation, Department of 
State.
[FR Doc. 04-22736 Filed 10-7-04; 8:45 am]
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