July 12, 1982

I have ordered termination of economic sanctions against Argentina, effective today, July 12. These sanctions, which were imposed April 30, include withholding of new Export-Import Bank credits, insurance, and guarantees, and new Commodity Credit Corporation guarantees. I have made this decision after a thorough review of the situation in the South Atlantic following the cessation of hostilities. It is important now for all parties involved in the recent conflict to put the past behind us and to work for friendship and cooperation. The United States, for its part, will do all it can to strengthen its historic ties among nations of this hemisphere.