Under these sanctions, Ex-Im Bank may not give approval to loans, loan guarantees, or credit insurance in support U.S. exports to India.
Sanctions take effect immediately regarding all new business in the public and private sectors.
The board's action follows President Clinton's determination today that sanctions required by the Arms Export Control Act be imposed by all relevant U.S. government agencies. Ex-Im Bank is an independent federal agency that promotes and assists in financing U.S. exports to markets around the world.