Word: embargoed
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...aftermath of their Khartoum summit meeting, some Arab nations finally began to patch up their quarrels with one another. They also began to deal more rationally with the West. Kuwait, Saudi Arabia and Libya dropped their oil embargo against the U.S. and Britain and reaffirmed their promise to subsidize Egypt and Jordan to the tune of $392 million a year as long as "traces of Israeli aggression" persist. Egypt and Sudan restored landing rights to Britain's BOAC, and Egypt was on the verge of allowing T.W.A. back into Cairo. Even those two archenemies among the Arabs-Egypt...
Boycotts rarely work, and the Arab effort to starve the West for oil proved to be no exception. While Europe tapped costlier supplies in the U.S. and Venezuela, three months of a some what leaky embargo by Arab countries on oil shipments to the U.S., Britain and West Germany merely robbed their own treasuries of millions in royalties and taxes. Last week, almost as swiftly as it was imposed during the Arab-Israeli war, the ban for all practical purposes ended...
...series of meticulously researched articles aptly titled "The Sanctions Busters," the London Sunday Times graphically explains the failure. For many companies and many countries, beating the embargo has become a big and profitable game. As a result, Rhodesia is nowhere near the economic collapse that the U.N.'s measures were intended to bring about...
Algeria and Syria demanded that all Arab nations 1) break cultural and diplomatic ties with the U.S., Britain and West Germany for allegedly supporting Israel during the war, 2) organize a total trade boycott of the three countries, and 3) continue their current oil embargo. Egypt, Iraq and Republican Yemen were in general support. On the right, oil-rich Saudi Arabia, Kuwait and Libya-joined by Jordan, Tunisia and Morocco-insisted on maintaining all ties with the West and scrapping the oil embargo, which was costing each of them $500,000 a day in lost revenues. "It is time...
...other Arab nations were in any position to help Nasser-or themselves. As a result of the Middle East oil embargo (see WORLD BUSINESS), Iraq's gold reserves are expected to dip perilously low. In Syria, which lost the vital revenues from two oil pipelines, the capital city of Damascus began rationing food last week. Lebanon's $85 million-a-year tourist industry, meantime, has all but dried up. Hardest hit is Jordan: it lost not only the tourist-rich Old City of Jerusalem but, at least for the time being, the agricultural lands on the west bank...