Washington, 12/06/2001 (Agence Europe) - Senators Gordon Smith (Oregon, Republican) and Charles Schumer (New York, Democrat) proposed on 7 June renewing the Iran-Libya Sanctions Act (ILSA) that has been in force since 1995 and which, otherwise, would expire in August. "I think that the Bush Administration is supportive of it" Senator George Allen (Virginia, Republican), who is co-sponsoring the Act, told the press. The extension of ILSA "is not a new policy, it is a continuation of existing policy", he added. This legislation (which imposes sanctions on those who invest in the Iranian and Libyan oil industry) has proven its effectiveness, Senator Schumer added. Thus, he recalls that, of 55 oil projects proposed in Iran, only half a dozen received international funding because in large part this legislation is effective"". As for Senator Smith, he said on the same occasion that Iran was "currently the chief sponsor of international terrorism", as well as being a "proliferator of weapons of mass destruction", whereas Libya continues to "deny responsibility for the bombing of the Pan Am 103 flight and defies the resolutions of the UN". Neither of these two countries "has moderated its stances regarding terrorism", said Senator Allen. According to Senator Schumer, they should "put to rest the idea that ILSA might expire or be weakened".