WASHINGTON, D.C.: House Speaker Newt Gingrich created a special panel to investigate the Clinton Administration's role in Iranian arms shipments to Bosnia in defiance of an international embargo imposed in 1992. Gingrich's call for an investigation came a day after a State Department official said that the administration tacitly approved the 1994 arms transfers because of the Bosnians' desperate military situation. "President Clinton's policy of virtually inviting Iran into Europe could have disastrous results for America," said Gingrich. "The president undertook this reckless policy hastily and then kept it secret from Congress, the American people and our European allies." While the GOP will try to get as much political mileage as possible out of the inquiry, TIME's James Carney says it's not likely to be a major issue in the fall. "This is an issue that Senator Dole will try to exploit. But foreign policy will probably not be a major campaign issue unless Yeltsin loses the election in Russia or the Middle East peace process falls apart. But this is a legitimate avenue of inquiry. Iran is a rogue state that supports terrorism, and it's worth investigating if the U.S. was in fact cohorts with Iran" Headed by Illinois Representative Henry Hyde, the investigation will be conducted by the select subcommittee of the House International Relations Committee and will include five Republicans and three Democrats.