Iran General NewsBush extends Iran, Libya sanctions law

Bush extends Iran, Libya sanctions law

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AFP: US President George W. Bush on Friday extended to September 29 a law that calls for sanctions on entities that invest in Iran and Libya’s energy sectors, the White House said. CRAWFORD, Texas, Aug 4, 2006 (AFP) – US President George W. Bush on Friday extended to September 29 a law that calls for sanctions on entities that invest in Iran and Libya’s energy sectors, the White House said.

Bush signed a provision extending the “Iran and Libya Sanctions Act” of 1996 at his Texas ranch, where he was enjoying a 10-day vacation from Washington.

The law imposes economic sanctions on persons or firms that invest 40 million dollars or more in any 12-month period in Iran or Libya’s oil or gas industries.

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