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U.S. SENATORS SECURE SAFEGUARDS AGAINST EX-IM BANK - AZERBAIJAN DEAL
PanARMENIAN.Net
May 10, 2011 - 10:03 AMT
U.S. Senator Jack Reed (R-RI), a senior member of the Armed Services
Committee, has secured a series of written assurances and ongoing
reporting requirements regarding a controversial loan recently extended
by the U.S. Export-Import Bank to Azerbaijan for the purchase of an
advanced satellite, reported the Armenian National Committee of America
(ANCA).
The bipartisan Congressional inquiries into this deal, since it was
first placed on the Ex-Im agenda earlier this year, were made possible
by Congressman Brad Sherman (D-CA), whose detailed scrutiny into this
transaction created the opportunity for both his House and Senate
colleagues to follow up with a broad range of questions and concerns.
In addition to Senator Reed, Senator Mark Kirk (D-IL), a leading voice
in Congress on military issues, played an especially constructive
role in addressing the potential regional security implications of
this satellite financing deal.
In a detailed, two-page letter, the Bank's Chairman and President,
Fred P. Hochberg, explained to Senator Reed that, "Though Ex-Im Bank
has established that the satellite lacks a military capacity, the Bank
has implemented additional measures to ensure that the satellite is
not utilized for any military related purpose."
"We want to thank Senator Reed, Congressman Sherman, and the other
legislators who worked with the Export-Import Bank in seeking to
address deeply held concerns, raised by Armenian Americans and others
devoted to peace in the Caucasus, regarding any U.S. action that might
empower or embolden Azerbaijan to renew its aggression against Nagorno
Karabakh and Armenia," said ANCA Executive Director Aram Hamparian.
On April 27th, the U.S. Export-Import Bank voted to approve the
controversial deal to finance Azerbaijan's purchase of an advanced
satellite just weeks after Azerbaijan threatened to shoot down a
civilian airliner.
Over the past three months, the ANCA has conveyed the Armenian American
community's serious legal, technical and political opposition to this
transaction in a series of letters and meetings with senior officials
of the Export-Import Bank and the State Department.
From: A. Papazian
PanARMENIAN.Net
May 10, 2011 - 10:03 AMT
U.S. Senator Jack Reed (R-RI), a senior member of the Armed Services
Committee, has secured a series of written assurances and ongoing
reporting requirements regarding a controversial loan recently extended
by the U.S. Export-Import Bank to Azerbaijan for the purchase of an
advanced satellite, reported the Armenian National Committee of America
(ANCA).
The bipartisan Congressional inquiries into this deal, since it was
first placed on the Ex-Im agenda earlier this year, were made possible
by Congressman Brad Sherman (D-CA), whose detailed scrutiny into this
transaction created the opportunity for both his House and Senate
colleagues to follow up with a broad range of questions and concerns.
In addition to Senator Reed, Senator Mark Kirk (D-IL), a leading voice
in Congress on military issues, played an especially constructive
role in addressing the potential regional security implications of
this satellite financing deal.
In a detailed, two-page letter, the Bank's Chairman and President,
Fred P. Hochberg, explained to Senator Reed that, "Though Ex-Im Bank
has established that the satellite lacks a military capacity, the Bank
has implemented additional measures to ensure that the satellite is
not utilized for any military related purpose."
"We want to thank Senator Reed, Congressman Sherman, and the other
legislators who worked with the Export-Import Bank in seeking to
address deeply held concerns, raised by Armenian Americans and others
devoted to peace in the Caucasus, regarding any U.S. action that might
empower or embolden Azerbaijan to renew its aggression against Nagorno
Karabakh and Armenia," said ANCA Executive Director Aram Hamparian.
On April 27th, the U.S. Export-Import Bank voted to approve the
controversial deal to finance Azerbaijan's purchase of an advanced
satellite just weeks after Azerbaijan threatened to shoot down a
civilian airliner.
Over the past three months, the ANCA has conveyed the Armenian American
community's serious legal, technical and political opposition to this
transaction in a series of letters and meetings with senior officials
of the Export-Import Bank and the State Department.
From: A. Papazian