Political Quotes

“Mr. President, last August Congress enacted, with broad bipartisan support, the Iran Threat Reduction and Syria Human Rights Act of 2012, a comprehensive sanctions bill I coauthored. That legislation, blending various measures introduced by my colleagues with new ideas developed by the Banking Committee, imposed a range of tough new sanctions on the Government of Iran and those who do business with it. This was done to tighten further the squeeze on Iran's major revenue sources, and force its leaders finally to come clean on Iran's illicit nuclear program. The third major piece of Iran sanctions legislation to be enacted in the last 2 years, it followed the Banking Committee's Comprehensive Iran Sanctions and Divestment Act in July of 2010, and the sanctions imposed on Iran's oil purchases 1 year ago. Those combined sanctions have had a powerful effect on Iran's economy, reducing its oil revenues by up to $5 billion per month, and causing the value of its currency to plummet. The Defense Authorization conference report being considered today includes a set of additional measures aimed at Iran which broaden and deepen U.S. sanctions against its shipping, energy, shipbuilding and military sectors, and those who deal with entities in these sectors. They also require new sanctions against those supplying Iran certain strategic materials, and expand the sanctions net to those who provide Iran certain financial or insurance services.…”