U.S. Reps. Mark Kirk (R-Ill.) and Ron Klein (D-Fla.) along with seven bipartisan members of Congress said today they will introduce legislation to amend the Iran Sanctions Act (ISA) so that the Administration would be required to investigate potential violators of the act and notify Congress of known offenders.
The introduction of the Iran Sanctions Enhancement Act follows a series of steps the bipartisan lawmakers have taken since last fall to stop Iran's pursuit of nuclear weapons and curb its sponsorship of global terrorism.
It also comes in the wake of a New York Times investigation that found the federal government ahs awarded more than $107 billion in contract payments, grants and other benefits over the past decade to foreign and multinational American companies while they were doing business in Iran, despite Washington's efforts to discourage investment there.
The awards include nearly $15 billion paid to companies that defied American sanctions law by making large investments that helped Iran develop its vast oil and gas reserves, the newspaper reported.
"While the original ISA was intended to deter investment in Iran's energy sector, no entity has ever been held accountable under the Act," the lawmakers said.
On October 20, 2009, 50 members of Congress wrote to the Administration, requesting an investigation of potential ISA violators identified by the non-partisan Congressional Research Service (CRS). On October 28, 2009, Assistant Secretary of State Jeffrey Feltman pledged to conduct such an investigation within 45 days. Last month, the Administration acknowledged that some transactions were "potentially problematic," but did not provide Congress with the full results of its investigation.
The Iran Sanctions Enhancement Act, which would amend the Iran Sanctions Act of 1996, would:
* Require the Government Accountability Office to publish a list of potential ISA violators every month;
* Require the President to initiate an immediate investigation of ISA violators, based on the information provided by the GAO;
* Require the President to complete the investigation within 45 days and notify Congress of entities found in violation of the Act.
Co-sponsors of the legislation include Shelley Berkeley (D-Nev.), Roy Blunt (R-Mo.), Leonard Lance (R-N.J.), Phil Roe (R-Tenn.), Ileana Ros-Lehtinen (R-Fla.), Loretta Sanchez (D-Calif.), and Aaron Schock (R-Ill.).