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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: Ashish who wrote (11519)5/13/1998 1:36:00 AM
From: Jeffrey S. Mitchell  Read Replies (3) of 13949
 
India is way too big a market for US to impose sanctions that could hurt its trade plans in that region. IMO

There's little room for opinion here. US law mandates sanctions. Sanctions on India will affect Indian companies. If Indian companies are affected it stands to reason so will the stocks for those companies.

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1994 law calls for sanctions

Under a 1994 U.S. law that Clinton said he would enforce, countries that detonate nuclear devices:

Are subject to denial of U.S. credits and credit guarantees.

Face U.S. opposition if they request loans from international lending institutions.

Are barred from loans from any U.S. bank, except borrowing that provides food or other agricultural commodities.

Sanctions also could include restrictions on U.S. military aid to India, but currently there is no joint military training between the two countries.

The Pentagon says its very limited military contact with India "would cease" if sanctions are imposed.

Clinton did not announce what specific steps his administration planned to take, but U.S. officials said privately that the president's senior advisers have recommended that he hit India with "the full range of sanctions" contained in the law, called the Glenn-Symington amendment.

An administration official said government experts want a careful evaluation of what happened before making a determination on sanctions.

Overall, officials admit that any sanctions will be a "minor irritant" to India, but enough to prevent its goal of creating a "take-off" economy.

The law says that if the president fails to act, the sanctions automatically go into effect after 30 days unless Congress decides otherwise.

Any U.S. move will be carefully considered by other countries. India's biggest donor is Japan, and the government in Tokyo announced it is currently weighing similar sanctions.

Full link:
cnn.com

- Jeff
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