Senate Committee Gives Go Ahead to Iran Sanctions Legislation
The Senate Banking Committee approved new Iran sanctions legislation on Jan. 29, with an 18-4 vote in favor. The Nuclear Weapon Free Iran Act of 2015, S-269 (here), would direct a rollout of sanctions if the U.S. doesn’t strike a…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
deal with Iran over its nuclear enrichment program by June, or if the Obama administration fails to report to Congress on the details of such a deal (see 1501290026). Banking ranking member Sherrod Brown, D-Ohio, opposed the bill, as did Sens. Jack Reed, D-R.I., Jeff Merkley, D-Ore., and Elizabeth Warren, D-Mass., a Brown spokeswoman said. Banking Chairman Richard Shelby applauded the committee’s approval of the bill. “It is clear that further action is necessary to compel Iran to reach an acceptable agreement, which is why I strongly support this critical bill,” said Shelby in a statement (here). President Barack Obama has vowed a veto, saying the legislation will threaten ongoing negotiations between Iran, the U.S. and other countries (see 1501200072).