On the recordAugust 1, 2012
I yield myself 30 seconds. The Senate Banking Committee summarized this bill by saying that it ``aims to prevent Iran from repatriating any of the revenue from sale of its crude oil, depriving Iran of hard currency earnings and funds to run its state budget.'' Spoken plainly, this bill would destroy the Iranian economy and further hurt the Iranian people that we claim to support. Iranians are already suffering under stifling sanctions as they experience rising food prices and lack of access to basic medicine. For example, the sanctions against the Iranian banking sector have greatly diminished the value of Iranian currency and have a negative effect on nearly every aspect of the lives of ordinary Iranians. The price of rent, education, and bread have all increased. I reserve the balance of my time.
