AJC Applauds House, Senate Approval of New Iran Sanctions

Jun 24, 2010, 19:58 ET from American Jewish Committee

NEW YORK, June 24 /PRNewswire-USNewswire/ -- AJC applauded today's decision of the U.S. House and Senate to impose tough new sanctions on Iran. The sanctions will target foreign companies that conduct business with Iran's brutal Revolutionary Guard as well as those companies engaged with Tehran's energy industry.

"In the last two weeks, the UN Security Council, the European Union and the United States have told the Iranian regime that the world will not tolerate the weaponization of its nuclear program," said AJC Executive Director David Harris. "We are gratified that our country continues to lead on an issue that poses a grave threat to the security of the region and the world. Moreover, the Iranian regime should take note that this legislation was passed overwhelmingly in both Houses, uniting liberals and conservatives, Democrats and Republicans in a common stance against that regime's nuclear ambitions."

The Comprehensive Iran Sanctions, Accountability, and Divestment Act expands the scope of the 1996 Iran Sanctions Act by penalizing foreign companies that assist Iran's energy industry, widely regarded as the regime's most vulnerable sector. U.S. banks are barred from dealing with foreign banks who do business with the Revolutionary Guard or aid Iran's nuclear program. Foreign companies that provide Iran with technology which can be used to restrict the free flow of information are barred from U.S. government procurement contracts.

SOURCE American Jewish Committee