JANUARY 29 MEETING OF THE POLAND SIG

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP83T00966R000100010026-2
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 2
• Document Creation Date: December 22, 2016
• Document Release Date: April 27, 2009
• Sequence Number: 26
• Publication Date: February 1, 1982
• Content Type: REPORT

. Approved For Release 2009/04/27: CIA-RDP83T00966R000100010026-2
THE DIRECTOR OF CENTRAL INTELLIGENCE
NSC Review Completed.
Nationa0lntelflgence Council
MEMORANDUM FOR THE RECORD
SUBJECT: January 29 Meeting of the Poland SIG
DDI #0817-82
1 February 1982
1. I lopened the meeting by saying that the Tuesday NSC
.meeting would probably be limited to the "extraterritoriality" issue on US
sanctions with a more general NSC meeting late in the week. He then asked
Hormats and Leland to report on the morning meeting of the Cabinet Council on
Economic Affairs on the Polish debt. They reported the view that it is most
important to press on getting payments, not to let the USSR off of the book on
payments, to maintain the threat of default; that if default is called,
nothing will he paid. Rescheduling can be used to squeeze them to pay. What
we want is to draw hard currency from the East.
2. However, under questioning, they made it clear that they did not
.anticipate circumstances in which we wouldn't go along with accepting any
payment we could get. -
3. The question was raised about the participation by US banks in
financing credits to the Soviet Union. After asserting that there was no such
financing now, Leland admitted that US banks are providing short term
commercial credits on grain to the Soviets.
4. On grain generally, Long of Agriculture reported that of the 10.9
million tons of grain ordered by the Soviets, 6.2 million tons had been
shipped by the end of January. Also that while the 1980 grain embargo had
been somewhat disruptive to the Soviets it had not been very effective; -
moreover, there is a large supp =.y in the world now.
5. Bailey (NSC) proposed an illustrative set of "intermediate" measures:
-- Embargo of fertilizers, pesticides, chemicals; these would have a
large effect on. the Soviet Union and a small one on us.
-- Meaningful alternatives to Yamal (a mentionimade of Norway).
The importance of studying allied safeguards and mechanisms for a
Polish default and a burden sharing formula.
State Dept. review completed
S C r3 k:
LI
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 Approved For Release 2009/04/27: CIA-RDP83T00966R000100010026-2
6. Hormats mentioned that we have pressed the allies to raise interests
rates to the Soviet Union; however, there is a problem with France. He also
mentioned the difficulty with the UK on existing contracts for products bought
not under license.
Henry S.Rowen
Chairman
Approved For Release 2009/04/27: CIA-RDP83T00966R000100010026-2