For Immediate Release
Office of the Press Secretary
August 3, 2001
Statement by the President
Today, I have signed into law H.R. 1954, the "ILSA Extension Act of 2001." This Act provides for a 5-year extension of the Iran and Libya Sanctions Act (ILSA) with amendments that affect certain of the investment provisions.
I believe that we should review sanctions
frequently to assess their effectiveness and continued
suitability. A new provision in this bill mandates a report
on the impact of certain actions taken pursuant to the
Act. I approve of this statutorily mandated requirement to
periodically assess the effectiveness of sanctions and to recommend
whether the Congress should terminate or modify the Act. The
Act also continues the President's power to waive sanctions in the
national interest.
My Administration shares the Congress'
deep concerns about the objectionable policies and behavior of Iran and
Libya. We are addressing these concerns in a number of
ways. In particular, we are strengthening our efforts with
other countries, whose cooperation is essential to pursuing the most
effective approaches to solving the problems of proliferation and
terrorism addressed by ILSA.
Libya must address its obligations under
U.N. Security Council Resolutions. These relate to the 1988
Lockerbie bombing and require Libya to accept responsibility for the
actions of Libyan officials, disclose all it knows about the bombing,
renounce terrorism, and pay appropriate
compensation. Cooperative action by Libya on these four
issues would make it possible for us to begin to move toward a more
constructive relationship.
With respect to Iran, we continue to have
serious concerns over its support for terrorism, opposition to the
Middle East peace process, and pursuit of weapons of mass
destruction. I hope that the Iranian people's recently
expressed desire for a freer, more open, and more prosperous society
will give our two countries an opportunity to identify areas where our
interests converge, and where we can work together constructively for
our mutual benefit.
GEORGE W. BUSH
THE WHITE HOUSE,
August 3, 2001.
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