On the recordApril 29, 2015
Mr. President, I am here on the floor this afternoon with my good friend from North Dakota, and I want to speak to an issue as it relates to the Iranian sanctions bill that we have on the floor in front of us. This is about an issue that so many of us care deeply about--about our own domestic production here, about the strength of our economy, about the strength of our national security and how the United States in a global environment really stands toe-to-toe in good strong competition around the world. I want to speak today about U.S. oil--the ban on U.S. oil--and how this all intersects with Iran, Iranian sanctions, and specifically, the sanctions on Iranian oil. I am submitting a bipartisan amendment to allow U.S. oil to compete with Iranian oil on the global market. I am pleased to be joined in this effort by Senator Heitkamp, Senator Hoeven, Senator Lankford, and, hopefully, others, as this discussion progresses. Iran's Government is largely dependent on its exports of oil for its revenue source. It sends oil to countries such as China, Japan, India, and South Korea. The sanctions that have been imposed have really hurt Iran's economy. They have brought Iran to the table. The sanctions that have been in place have cost the government in Tehran some $40 billion in lost export revenues in 2014 alone, according to the Treasury Department.…
Source
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