FOR IMMEDIATE RELEASE
October 25, 2000

Contact:
Pete Kasperowicz
Eric Thomas
202/822-9491

National Foreign Trade Council and USA*ENGAGE Applaud Defeat of Helms Russia Sanctions Amendment

Washington, D.C. – The National Foreign Trade Council (NFTC) and USA*ENGAGE congratulated House and Senate conferees for deleting the Helms Amendment from the FY 2001 Foreign Operations Appropriations Bill. The amendment could have imposed over $4 billion in unilateral economic sanctions against Russia.

The amendment (Sec. 599D of the Senate version of H.R. 4811) was introduced by Senate Foreign Relations Chairman Jesse Helms (R-NC), and would have prohibited the Export-Import Bank and the Overseas Private Investment Corporation from financing U.S. exports to Russia if it gives economic assistance to Yugoslavia.

"The defeat of this amendment is significant, as there have now been no noteworthy unilateral sanctions bills passed in this Congress," said Frank Kittredge, President of the National Foreign Trade Council (NFTC) and Vice Chairman of USA*ENGAGE. "The rejection of unilateral sanctions as a primary tool of foreign policy is not only commendable, but hopefully marks a turning point in future U.S. policy."

Kittredge offered special thanks to Senators Kit Bond (R-MO) and Patty Murray (D-WA), and Representatives David Dreier (R-CA) and Roger Wicker (R-MS) for their roles in defeating the Helms Amendment.

The National Foreign Trade Council was founded in 1914. Since then, NFTC has been a leading spokesman on behalf of the private sector for an open international trade and investment regime. NFTC's membership consists of 550 U.S. manufacturing corporations, financial institutions and other U.S. firms having substantial international operations or interests.

USA*ENGAGE is a coalition of 670 small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad.

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