A bill to promote improved relations between the United States, Greece, and Turkey, to assist in the solution of the refugee problems on Cyprus, and to otherwise strengthen the North Atlantic Alliance.

Authorizes the President to furnish to Turkey defense articles and services for which contracts were signed on or before February 5, 1975, under the Foreign Military Sales Act, provided that such authorization be effective only while Turkey observes the cease fire and neither increase its forces on Cyprus nor transfer any United States supplied arms thereto.

Requests the President to discuss with Greece that country's needs for economic and military assistance and to report findings to Congress.

Limits the authority of the President to suspend the ban on military assistance to the suspension of the ban with respect to equipment determined to be necessary to enable Turkey to fulfill her responsibilities as a member of the North Atlantic Treaty Organization.

Directs the President to report to Congress on progress made toward achieving a negotiated solution of the Cyprus problem.

Requires Congressional review of any proposed sale of any defense article or service for $25,000,000 or more before the issuance of any letter of offer to sell pursuant to the Foreign Military Sales Act.