Today, Congressman Sires voted to pass a series of comprehensive sanctions aimed at persuading Iran to change its conduct. The conference agreement for H.R. 2194, the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 passed the House of Representatives by a vote of 408 to 8. This legislation will strengthen the underlying Iran Sanctions Act (ISA) by imposing an array of tough new economic penalties on a variety of targets, ranging from businesses involved in refined petroleum sales to Iran to international banking institutions involved with Iran's Islamic Revolutionary Guard Corps (IRGC), Iran's illicit nuclear program or its support for terrorism. The final version of H.R. 2194 passed through the Senate on June 24, 2010 by a vote of 99 to 0 and will now go to President Obama for signature.
"These sanctions send a clear message to the Iranian Regime that the status quo of deliberate disregard for the international community will not be tolerated," said Congressman Sires. "The Iranian regime must halt its nuclear program."
Among other provisions, this legislation expands the scope of sanctions authorized under ISA by imposing sanctions on foreign companies that sell Iran goods or services that assist it in developing its energy sector-- not just those companies that invest in Iran's energy sector. This legislation also sanctions foreign banks that do business with the IRGC or with blacklisted institutions by banning U.S. banks from engaging in financial transactions with them. Finally, H.R. 2194 imposes significant financial penalties and travel restrictions to those in the Iranian regime that violate and abuse human rights. H.R. 2194 reinforces and strengthens recently-enacted UN sanctions on Iran.
"This important bill gives the United States a multifaceted set of tools to sanction Iran's nuclear program from several angles and send a clear signal that Tehran must cease its horrific human rights abuses," said Congressman Sires.