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. Last Updated: 07/27/2016

U.S. Cools on Sanctions

WASHINGTON -- The Clinton administration is backing away from imposing sanctions on European, Canadian,Russian and Asian energy companies that are investing in Iran, despite a law signed with great fanfare by U.S. President Bill Clinton in 1996, senior U.S. officials say.

The administration is hoping that the Asian financial crisis and the recent drop in the price of oil will cause the two deals at issue to collapse.

If that does not happen, the administration is negotiating with the European Union to find enough cause, under the law, to waive the sanctions that Clinton apparently does not want to impose.