A bill to provide for the suspension of the sales of defense articles and services described in the transmittals numbered 78-32, 78-33, 78-34, and 78-35 which were submitted by the President to the Congress pursuant to section 36(b)(1) of the Arms Export Control Act on April 26, 1978, if the respective recipient country engages in or facilitates international aggression against another country.

Requires the Secretary of State to investigate whether Egypt, Israel, or Saudi Arabia, is engaged or has engaged in international aggression, if the Secretary is requested to do so (1) by the President, (2) by a majority of the Committee on International Relations of the House of Representatives or the Committee on Foreign Relations of the Senate, or (3) by ten percent of the Members of the House of Representatives or the Senate.

Requires the President to suspend specified arms sales agreements with such countries in the event of international aggression. Declares that such suspension shall remain in effect until terminated by a concurrent resolution by Congress.

Permits the President to issue one warning in lieu of suspension to each country for direct or indirect financial or material support of acts of violence against a third country.

Requires the Director of the Central Intelligence Agency to submit periodic reports to specified Congressional committees regarding participation in international aggression by Egypt, Israel, or Saudi Arabia.