The U.S. Export-Import Bank has pledged to refuse assistance to American companies complying with the Arab boycott of Israel and the Overseas Private Investment Corp, also a federal agency, may follow suit. Rep. Benjamin Rosenthal (D, NY) said today.
Rosenthal is chairman of the House Subcommittee on Commerce, Consumer and Monetary Affairs, which has been studying federal enforcement of American policies against the boycott. He is also a leader in the House of Representatives for legislation that would outlaw any compliance with the boycott by Americans.
Rosenthal wrote the Export-Import Bank last month after the Department of Commerce revealed the names of companies complying with the boycott, an aide to the Congressman said. The Bank replied that it will scrutinize every export transaction concerning which the bank is asked to supply financial support. Where there is any evidence of compliance with the boycott, the bank will refuse to act with respect to that transaction, the aide said. Rosenthal will meet on Dec. 15 with OPIC, which insures and guarantees U.S. investments abroad, to seek a similar pledge.
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