Word: embargoing
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Dates: during 1980-1989
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...consequences were dire. The Administration appeared to have violated at least the spirit, and possibly the letter, of a long succession of U.S. laws that are intended to stop any arms transfers, direct ( or indirect, to Iran. Washington looked to be sabotaging its own efforts to organize a worldwide embargo against arms sales to Iran, and hypocritically flouting its incessant admonitions to friends and allies not to negotiate with terrorists for the release of their captives...
...much at ease in a tailored business suit as in a traditional flowing Bedouin thobe, or lengthy shirt, Yamani was the chief architect of the 1973-74 OPEC oil embargo. That historic action, which drastically cut back OPEC exports to several Western nations, including the U.S., more than quadrupled oil prices within 15 months and caused a severe global slump and then nearly a decade of rising inflation. By 1979, however, OPEC was already slipping from Saudi control. In that year the fall of the Shah of Iran led to a second worldwide oil shock, which nearly doubled prices once...
...significant victory for antiapartheid forces" because they send a message to other U.S. corporations that "it is bad business to do business with South Africa." Leon Sullivan termed the new withdrawals a "big first step toward achieving the goal of ending apartheid"; he now believes that a "total embargo" will be necessary if racial segregation is not dismantled by next June. Other antiapartheid activists were less enthusiastic. Richard Knight, head of corporate research for the New York City-based American Committee on Africa, contends that sell- offs alone are not sufficiently punitive. "We want an end to all sales...
...African racial policy. The country's leaders, determined to go their own way, are convinced they can continue to prosper even in economic isolation. Officials are already gearing up to circumvent trade sanctions. They have long since proved their skills at "sanctions busting," by defying the United Nations arms embargo imposed against Pretoria in 1977. To combat the new U.S. measures and also those imposed by the European Community and Japan in September, the government of State President P.W. Botha has now established an office for "unconventional trade...
...sanctions ban all new investments and bank loans to South African companies and prohibit the importation of uranium, coal, textiles, iron, steel, ammunition and agricultural products produced in South Africa. The law also establishes an embargo on the export of oil and munitions to that nation...