New Sanctions on Iran's Central Bank Not Enough, Ros-Lehtinen Says

Statement

U.S. Rep. Ileana Ros-Lehtinen (R-FL), Chairman of the House Foreign Affairs Committee, released the following statement today on the announcement of U.S. sanctions against the Central Bank of Iran (CBI) which would cut off all contact between the CBI and Iranian financial institutions, and U.S. financial institutions:

"The implementation of the first phase of sanctions against the Central Bank of Iran is a step in the right direction, but the Administration's Iran sanctions policy needs to get much tougher, and fast.

"The Administration must immediately impose sanctions against foreign financial institutions doing business with Iran, against all companies investing in Iran's energy sector, and against all entities supplying Iran with refined petroleum products. Only by taking this vigorous course of action can we finally apply the crippling pressure necessary to force Iran to abandon its nuclear program and support for extremists. Short of maximum pressure, our efforts may be too little too late.

"Additionally, the Senate must finally act with a sense of urgency and immediately pass the strong Iran sanctions legislation that was passed in December by the House so that we can get it to the President's desk."

NOTE: Ros-Lehtinen is the author of H.R. 1905, the Iran Threat Reduction Act. The bill was approved by the House by a vote of 410-11. The bill strengthens, updates and replaces previous Iran sanctions laws to ensure that current law vigorously addresses the multiple threats posed by Iran. The bill closes loopholes in energy and financial sanctions, including by targeting the Central Bank of Iran. The bill also targets the Iranian Revolutionary Guard Corps and senior Iranian regime officials.

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