Pubdate: Tue, 02 Mar 1999 Source: United Press International Copyright: 1999 United Press International BILL WOULD FREEZE CARTELS' ASSETS WASHINGTON, - Sens. Dianne Feinstein, D-Calif., and Joseph Lieberman, D-Conn., are calling on the United States to hit drug cartels where it hurts - in the bank account. The two introduced a bill today that would prohibit U.S. companies from making any financial transactions with any business or individual associated with indicted drug lords. Similar tactics have been employed against the Colombian drug cartels, the government of Iran and former Panamanian leader Manuel Noriega. The bill would freeze the U.S. assets of individuals identified as drug traffickers by a special government task force. And like the existing executive order against Colombia's Cali cartels, it would block the drug lords and their families and associates from any financial, commercial or business dealings with the United States. Since much of the drug trade is conducted with U.S. currency, the law has the potential to cripple the cartels. Feinstein said the Colombian sanctions have been so effective that many of the cartels have moved their operations to Mexico. Unfortunately, the drug trade in Mexico is now so pernicious that some in Congress are threatening to de-certify Mexico as a partner in the drug war. Lieberman said the bill would be an alternative to leveling sanctions against the countries in which the drug cartels operate. Any U.S. corporation caught doing business with the so-called ``bad actors'' would face criminal penalties of up to $500,000 per violation. Individuals would face fines of up to $250,000 per offense, as well as possible civil penalties. If the legislation is passed into law, the Treasury Department's Office of Foreign Assets Control would administer the program and draw up the list of blacklisted drug traffickers, in cooperation with the Departments of Justice and State. Among the countries that have been identified as major producers or conduits of the drug trade: Afghanistan, Aruba, the Bahamas, Belize, Bolivia, Brazil, Burma, Cambodia, China, Colombia, Dominican Republic, Ecuador, Guatemala, Haiti, Hong Kong, India, Jamaica, Laos, Mexico, Nigeria, Pakistan, Panama, Paraguay, Peru, Taiwan, Thailand, Venezuela and Vietnam. - --- MAP posted-by: Derek Rea