House passes tough sanctions on Iran, now Senate must act

Last night, the US House of Representatives passed tougher economic sanctions on Iran. The Iran Refined Petroleum Sanctions Act is an expansion of sanctions already on the books.

Specifically, the legislation requires “the President to report to Congress three months after the law’s enactment - and every six months thereafter - anyone who has provided Iran refined oil, helped it import oil or helped it develop its domestic refining capacity.” Any companies who are “sanctioned” will be prohibiting from taking part in “foreign exchange and bank and property transactions.” The sanctions hit the Islamic Republic of Iran where it is most vulnerable.

The bill, which passed 412-to-12 in the US House, is also expected to pass in the US Senate. Representative Howard Berman (D-CA), co-sponsor of the bill, said, “This bill has one overriding goal: To prevent Iran from achieving nuclear weapons capabilities.”