Wendy Sherman: “I thank the gentleman for yielding. I want to thank the chairwoman of the Foreign Affairs Committee for her work on this…”

“I thank the gentleman for yielding. I want to thank the chairwoman of the Foreign Affairs Committee for her work on this bill and for reaching an agreement with the Senate Banking Committee, and I rise in strong support of this measure. I especially want to thank the chairman for working with me on title III of this bill, as it reflects several years of our work together. Title III targets the Iran Revolutionary Guard Corps and began its life as H.R. 2379, then designated the Iran Revolutionary Guard Corps Designation Implementation Act, which I introduced along with the chairman in May of 2009. These provisions impose tough secondary sanctions against any person, including foreign companies, that conduct any significant transaction with the IRGC or any of its designated fronts and affiliates. The IRGC, through its support of Hezbollah and its direct action, has much blood on its hands. I want to thank the chairman and her staff for including section 303, which applies sanctions to countries and governments--not just companies--that conduct transactions or provide support for the IRGC and for provisions which indicate that if you want to be a Federal contractor, you must certify that you do not do prohibited business with the IRGC. This bill also includes important provisions I first proposed in the Stop Iran's Nuclear Weapons Program Act that will provide sanctions against those who lend money to the Iranian Government.…”