WASHINGTON INSIGHT

PRESSURE: The United States is ready to put the money squeeze on Iraq and Libya by toughening prohibitions against Americans doing business with either country. . . . In a speech in Kuwait, Richard Newcomb, director of the Treasury Department’s Office of Foreign Asset Control, predicted a “major breakthrough” in efforts to identify remaining elements of Saddam Hussein’s worldwide arms procurement network and to block Iraqi assets hidden in international banks. . . . Sources also say Treasury is preparing a new list of companies and individuals identified as doing business with Libya, which has refused to turn over two suspects in the bombing of Pan Am Flight 103.