Turkey reverses on Iran pipeline deal ANKARA, Turkey - In an apparent move to circumvent a U.S. lawpenalizing investments in Iran, Turkey said Wednesday that it haswithdrawn from an earlier commitment to finance construction of theIranian side of a gas pipeline. Turkey's first Islam-inspiredgovernment signed a $20 billion gas deal with Iran on Monday, despitepleas from Washington. The Energy Ministry said an agreement signedlast year that required the state-run pipeline company to invest onIranian territory has been eliminated, and each country will buildits own side of the pipeline. President Clinton signed a law lastweek that lets Washington penalize foreign companies that invest inthe oil and gas industries of Iran and Libya. Colombia-Britain agreement rejected BOGOTA - Colombia's Constitutional Court struck down part of anagreement between Colombia and Great Britain that gave Britishcompanies in the South American country protection againstexpropriation. With the ruling, Colombia retains the right to seizeforeign property and assets without reimbursing the companies. Thecourt ruled that repaying companies in these situations wasn't inkeeping with the 1991 Constitution.
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