Watching Government: Mixed signals on sanctions

Industry hopes that the Bush administration would be able to convince Congress to move forward with sanction reforms this summer are fading fast.The administration is still planning to offer its own revamped "smart sanctions" next month on Iraq, but a more comprehensive review of existing sanctions on other oil-rich countries, most notably Iran, may not be complete as soon as oil companies would like."Notwithstanding the prevailing view of many in the administration that economic sanctions don't work and simply disadvantage US corporations in international markets, it seems unlikely that the political climate would favor lifting sanctions at this time," notes Ed Garlich, senior managi...

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