State Department reverses decision, clears way for Russian oil loanFive hundred million dollars will buy equipment from 25 U.S. companies, including Halliburton, for Tyumen Oil Harry Dunphy Associated Press Writer
The State Department lifted its objections March 31 to loans that would help Russia’s oil industry, clearing the way for $500 million in loans to buy equipment from American companies. The ban had been imposed last December amid heavy fighting in Chechnya.
Department spokesman James P. Foley said i....
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Blocking loans forced privatization Administration invoked law to block loans
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