U.S. Senators secure safeguards against Ex-Im Bank - Azerbaijan deal

PanARMENIAN.Net - 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.