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U.S. Lawmakers Announce Proposed New Iran Sanctions

U.S. Senator Christopher Dodd
U.S. lawmakers say they have agreed on a proposal for a series of new U.S. sanctions against Iran aimed at pressuring Tehran to curb its nuclear program.

The proposal was announced June 21 in a joint statement by Senator Christopher Dodd and Representative Howard Berman, both Democrats.

The proposal is now being circulated among House and Senate negotiators and must still be approved by both Congress chambers and signed by President Barack Obama to become law.

The proposal calls for blocking access to the U.S. financial system to non-U.S. banks that do business with certain Iranian banks or Iran's Revolutionary Guard Corps.

The proposed sanctions would also target firms that provide Iran with refined petroleum products such as gasoline or jet fuel. Iran relies on such imports because it lacks its own refining capacity.

The proposed new U.S. sanctions follow new UN Security Council sanctions and European Union sanctions imposed earlier this month over Iran's refusal to halt uranium enrichment work that could be diverted toward nuclear weapons. Iran denies any effort to develop a nuclear weapon.

compiled from agency reports