Rep. Wasserman Schultz Votes To Toughen Iran Sanctions

(Washington, DC) – Rep. Wasserman Schultz joined the United States Congress in approving stronger, tougher sanctions against Iran today, protecting the security of the United States and sending a strong message that the U.S.  Government will not allow a nuclear-armed Iran.

 Rep. Wasserman Schultz was an original co-sponsor of the Comprehensive Iran Sanctions, Accountability, and Divestment Act, which is by far the most comprehensive Iran sanctions legislation Congress has ever passed. It adds sanctions on refined petroleum, but more importantly, it broadens the categories of sancitonable activities by applying sanctions on those who sell Iran technology, services, or know-how that help the country develop its energy sector.

“It cannot be overstated: A nuclear-armed Iran is an urgent and deadly threat to peace and stability in the Middle East and at home,” said Rep. Wasserman Schultz.  “As citizens of the United States—a global power and nuclear leader—we have a priority to make sure that nuclear capability does not get into the wrong hands. We must protect ourselves, and our ally Israel, from the dangers of the Iran regime.”

“This legislation will help us quash Iran’s continued attempts at developing nuclear weapons. With Tehran importing 25 to 40 percent of its refined petroleum needs, these economic sanctions will have a dramatic impact on Iran’s economy. They are critical to suspending Iran’s nuclear program. ”

The legislation establishes three new sanctions, in addition to the six sanctions already existing under ISA. These new include prohibitions on access to foreign exchange in the U.S, access to the U.S. banking system, and property transactions in the U.S.

The legislation bans U.S. banks from engaging in financial transactions with any foreign bank that does business with the Iranian Revolutionary Guard Corps, facilitates Iran’s illicit nuclear program, or supports Iranian terrorism. It imposes significant financial penalties and travel restrictions on Iran’s human rights abusers. It also provides a legal framework by which state and local governments, as well as certain other investors, can divest their portfolios of foreign companies involved in Iran’s energy sector.