Word: embargoing
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...drummed up financial aid in two forms. One is assistance from economic powers to nations that have incurred heavy losses by joining the embargo against Iraq -- primarily Egypt, Turkey and Jordan but also Syria, Morocco, Algeria and Poland. As of Nov. 30, according to Washington, allies had pledged $13.4 billion to this cause and so far actually paid $6 billion. America has also sought cash and in-kind contributions to defray U.S. military expenses by allied payments into a special Defense Cooperation account. In a manner befitting a computer age, no cash or even paper changes hands; countries merely make...
...questions. Can sanctions really cripple Iraq? And even if they can, will that be enough to persuade Saddam to leave Kuwait? Those questions are dissolving the once solid support for the Bush policy along partisan lines as Democrats in Congress have begun to insist, loudly, that the embargo must be given time. Says Maryland Senator Paul Sarbanes: "The cost of a year of waiting is nothing compared with the cost of a week...
...economic pressure is a depiction much bleaker than that put forward by the White House. In recent weeks the Bush Administration has been closing ranks to offer a suddenly more downbeat assessment of whether sanctions can work. In late October, George Bush was still expressing the hope that the embargo could force Saddam to retreat. But last week, a few days after the United Nations Security Council approved the use of military force in the gulf, he declared, "I've not been one who has been convinced that sanctions alone would bring him to his senses." On the same...
...imports and 97% of its exports have been shut off. Though the impact upon the nation's food supply has not been serious, the virtual end of imports is bad news for Iraqi industry, which is heavily dependent on parts and equipment from abroad. At the same time, the embargo on Iraqi exports, especially oil, has cost Saddam $1.5 billion a month since he invaded Kuwait in August, leaving his nation without the foreign exchange it must have to offer as payment for smuggled goods. For now, Iraqi factories can dip into preinvasion stockpiles or obtain parts plundered from Kuwaiti...
...expressed a compelling rationale for war against Saddam Hussein if the dictator refuses to leave Kuwait by Jan. 15. The charge that a war would only serve the interests of the powerful U.S. oil lobby is ludicrous. Profits have soared and will continue to rise during the embargo, when the possibility of war unnerves international markets. A return to stabilization after war will surely lower prices...