A bill to prohibit United States Government financial assistance and exports of agricultural commodities and high technology to Soviet Bloc countries, to require the United States to oppose assistance by the World Bank and the International Monetary Fund to Communist bloc countries and to require approval and justification for extensions of credit by banks to Communist bloc countries, until there is an agreement between the United States and the Soviet bloc countries on stabilizing nuclear and conventional arms.
Soviet Bloc Aid Prohibition Act - Prohibits economic aid to Soviet bloc countries. Prohibits farm exports and exports of high technology to such countries.
Directs the U.S. executive directors of specified international financial institutions to oppose financial aid for any Soviet bloc country.
Prohibits U.S. banks from extending any credit to any Soviet bloc country without the approval of the Secretary of the Treasury. Requires the Secretary to provide Congress with a justification for approving the extension of credit.
Requires the prohibitions contained in this Act to remain in effect until an arms stabilization agreement is concluded between the United States and the Soviet bloc countries.
Defines Soviet bloc countries as the Soviet Union, Bulgaria, Czechoslovakia, Hungary, Poland, Romania, East Germany, Cuba, and Vietnam.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to House Committee on Foreign Affairs.
Referred to Subcommittee on International Development Institutions and Finance.
Referred to Subcommittee on International Trade, Investment and Monetary Policy.
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