The Stars and Stripes Wherever: The Impact of Unilateral U.S. Economic Sanctions on the International Petroleum Industry
AbstractThe authors discuss the impact of American domestic policies and electoral politics on the formulation of the international economic laws of the United States. They note a trend towards the attempted extraterritorial application of American international economic legislation and highlight the significance of the Helms-Burton Actand the Iran (Libya) Oil Sanctions Act in this context. It is suggested that these Acts represent an aggressive attempt by the United States to force its traditional allies and trading partners to conform to American international economic policies, and that if not successfully challenged in international fora they may be followed by other similar pieces of legislation. Finally, special attention is paid to the impact and potential impact on the oil industry of these Acts and other American international economic measures.
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