To impose sanctions against Iraq.

Prohibits: (1) the sale to Iraq and the issuance of licenses for the export to Iraq, of any item on the U.S. Munitions List; (2) the export to Iraq of any goods or technology on the Export Administration Act of 1979 control list; and (3) the issuance of licenses for the export to Iraq of any chemical that may be used in the production of chemical weapons or for other chemical warfare purposes.

Prohibits: (1) the issuance of licenses or other authorizations under the Atomic Energy Act of 1954 for the export or distribution to Iraq of any nuclear materials and technology; (2) any authorization by the Secretary of Energy under such Act to engage in activities in Iraq that require specific authorization; and (3) the issuance of any licenses under the Export Administration Act of 1979 for the export to Iraq of specified nuclear goods or technology.

Requires the United States to oppose loans or financial or technical assistance to Iraq by international financial institutions.

Denies Iraq Export-Import Bank credits and assistance under the Foreign Assistance Act of 1961 (except for humanitarian assistance) and the Arms Export Control Act.

Applies contract sanctity to export contracts signed before May 1, 1990.

Terminates sanctions four years after this Act's enactment.

Calls on the President to: (1) deny dangerous technologies to Iraq; and (2) induce Iraq to respect human rights.