A bill to impose certain sanctions against countries which expropriate real property of United States persons.

Summary

Sets forth sanctions the President shall impose upon countries that have: (1) nationalized, expropriated, or seized real property owned by U.S. persons; (2) taken steps to repudiate or nullify an existing contract or agreement, effectively nationalizing, expropriating, or seizing the property; (3) imposed or enforced measures with respect to such property, effectively nationalizing, expropriating, or seizing the property; or (4) imposed provisions that apply to real property securing a loan granted by a U.S. person and that are different from those applicable to the citizens of the foreign country. Exempts from such sanctions those countries that the President determines: (1) have compensated the U.S. person; (2) are negotiating to provide adequate compensation under international law; or (3) have submitted a compensation dispute to a mutually agreed upon arbitral forum. Requires the President to report such findings to both houses of Congress. Lists as the sanctions the President shall impose: (1) suspension of landing rights to the aircraft of the foreign country or to the aircraft of another country if the aircraft lands in that foreign country; (2) denial of entry into U.S. territorial waters to that country's flag vessels or to another country's flag vessels that use the territorial waters of that foreign country; (3) suspension of the right of U.S. aircraft or flag vessels to carry passengers or cargo to or from that country; and (4) prohibition of all exports to that country. Requires such sanctions to remain in effect until the President determines that the legislation has been repealed or adequate compensation has been paid. Directs the President to publicize the provisions of this Act. Sets a fine for persons who enter the United States or U.S. territorial waters in violation of this Act. Requires seizure of aircraft or vessels used in violation of this Act. Prohibits their release until one year after their seizure and unless the person violating this Act has paid all fines and storage fees. Requires the U.S. Foreign Claims Settlement Commission, upon request of the President, to report to the President the value of real property subject to actions by foreign countries to which this Act applies. Defines the terms used in this Act. Makes the provisions of this Act applicable only to real property that was owned or leased by a U.S. person before the foreign government enacted the expropriating legislation, provided that such foreign legislation makes certain guarantees.

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1 official file

• Introduced in House

  summary · EN · 24 February 1982

  Open at official source

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