VOL. XL

No. 28

14-July-1997

IRAN

D'Amato Warns Germany's WestLB Against Iran Loan

US Senator Alfonse D'Amato has warned Germany's Westdeutsche Landesbank Girozentraleagainst making a $90mn loan to the Iranian Offshore Engineering Construction Company(IOEC) for the financing of the offshore Soroush oilfield. In a letter dated 10 July tothe WestLB Chairman of the Managing Board Friedel Neuber, Mr. D'Amato said the deal wouldbe a clear violation of the 1996 Iran Libya Sanctions Act (ILSA). "This...