Iran Sanctions Mark Up (IranVNC.com)

The US Senate Banking Committee overwhelmingly approved "The Comprehensive Iran Sanctions, Accountability and Divestment Act of 2008" on July 17th, a bill that would impose further trade and economic sanctions against Iran. The bill allows investors the option to divest funds from firms that have invested in the country's energy sector, and allows for further sanctioning of Iranian banks, institutions, and individuals associated with Iran's controversial nuclear program. Lawmakers agreed that sanctions play a crucial role in dealing with Iran. [SB Senator Dodd, 6:45] "Much more assertive diplomacy and efforts to bolster out relationship with Iran's people, coupled with tougher financial measures to increase economic pressure designed to bring its government to the table, is the new way forward for U.S. policy." Thus far, three rounds of sanctions have been passed by the UN -- mainly freezing assets of Iranian banks and placing travel restrictions on individuals associated with Iran's nuclear program. The US unilaterally imposed sanctions on companies investing more than 20 million dollars in Iran's energy sector and currently continues further divestment from Iranian energy firms. Senator Christopher Dodd (D-CT), chairman of the Senate Banking Committee, further called the measure part of a "newly energized push to harness assertive diplomacy and the economic leverage these initiatives can offer, and bring the Iranians to the table once and for all to come clean on these issues and abandon their nuclear weapons ambitions... Iran's behavior with respect to weapons proliferation, support for terrorism, destabilization of its neighbors, and threats against our allies and interests demand a serious response." Not all lawmakers agreed with the premise that more sanctions would prove fruitful. The Republican Senator Chuck Hagel (R-NE) voted against the bill, saying that progress was being made on the Iranian nuclear issue, and that a "far wiser" course would be to open an interests section in Iran. Although not yet official, Senator Hagel spoke of the [SB Hagel 15:40] "...possibility of announcing for the first time since 1979 an Iranian interests section being established in Tehran, which probably would also include a flight, or some flights, between the United States and Tehran, which would be rather significant" Having passed the Banking Committee, the bill must now be passed by both houses of congress. http://www.iranvnc.com/ English link: http://iranvnc.com/en/home/

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: IranVNC

Length: 02:27
Rating: N/A
Views: 157

Tags: Chris  Chuck  Dodd  hagel  Iran  Iranvnc  news  Sanctions  Senate  

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