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

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

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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