On the recordJune 24, 2010
I stand in support of the Comprehensive Iran Sanctions Accountability and Divestment Act of 2010. As a cosponsor of the Iran Sanctions Act, I congratulate the conferees for building on the best features of that bill, and the Senate version, to produce bipartisan legislation that moves beyond our initial focus on restricting refined oil supplies and creates sweeping and strong new sanctions on banks doing business with Iran. If Iran continues with its illegal nuclear enrichment activities, it will threaten the stability of the Middle East, threaten the security of its neighbors, including Israel, and jeopardize the international counter-proliferation regime. This bill directs the President to take additional measures to stop those efforts. The measure codifies longstanding executive orders that limit the goods exempted under the American trade embargo against Iran and includes new provisions that hold U.S. and foreign banks accountable for their actions and for the actions of their subsidiaries.
