Word: alsthom
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Dates: during 1980-1989
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...after his return from the Versailles summit, the President broadened the ban to include all equipment manufactured by Western European firms under license from U.S. companies. The Socialist government of President Francois Mitterrand, which has opposed the idea of sanctions from the start, ordered the state-owned engineering firm Alsthom-Atlantique to ignore the new U.S. sanctions and sell Moscow the sophisticated turbine rotors that are needed to pump the Soviet gas westward. Since the French company had acquired the right to produce these rotors under a licensing agreement from a U.S. company, General Electric, the French government...
...from his predecessor, Valéry Giscard d'Estaing. Said Reagan: "Our allies pointed out to us that they had already gone forward to the point that they did not feel they could retreat." Washington could try to impose penalties, including fines and blacklisting in the U.S., if Alsthom-Atlantique and Nuovo Pignone go ahead with their plans. But in the end, most experts agree, there is little the U.S. will be able to do to stop the French and Italians from selling the equipment to the Soviet Union...
...extending the embargo to include U.S. licensees abroad, Washington sought, in the words of one official, to "close a loophole." But, like most economic sanctions, the U.S. curbs on pipeline technology may be easy to circumvent. France's state-owned engineering firm Alsthom Atlantique, for example, could build the rotors itself, though at the risk of an ugly legal tangle with Washington over infringement of its General Electric license. U.S. penalties include blacklisting from the U.S. market, as well as heavy fines and even the arrest in the U.S. of executives from companies that violate...
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