The act replaced the US Jackson-Vanik amendment, which dated back to the Cold War.

BBC: Magnitsky row: Putin backs Russian ban on US adoptions

You will recall that the Soviet Union ceased payments on this debt in 1974 after the Jackson-Vanik amendment was enacted.

CENTERFORSECURITYPOLICY: The U.S.-Soviet Trade Agreement: Overtaken By Events

This is a bitter irony since it was the Jackson-Vanik amendment -- abandoned by President Bush on 12 December 1990 -- which linked freedom to leave the Soviet Union to access to government-guaranteed credits.

CENTERFORSECURITYPOLICY: Center For Security Policy

Mr. Bush has also promised to clear the way for permanent normal trade relations status for Russia by getting the 1974 Jackson-Vanik Amendment formally repealed and to use his influence to secure membership for a free-market Russian economy.

CENTERFORSECURITYPOLICY: Bush's Russian Gamble

As you are well aware, his landmark amendment to the Trade Reform Act of 1974, cosponsored with Rep. Charles Vanik, profoundly shaped all subsequent U.S.-Soviet economic ties.

CENTERFORSECURITYPOLICY: The U.S.-Soviet Trade Agreement: Overtaken By Events