As Delivered:

Mr. Speaker, I yield myself such time as I may consume. 

Today is a day of contrasts.

Today, as we stand here in this hallowed chamber of democracy discussing the threat Iran poses to the United States and global security, and to its own people, Iran’s leader will later be spewing his venomous rhetoric before the United Nations General Assembly.

Last year, the leader of the Iranian regime called for Israel to be wiped off the map and for a new wave of Palestinian attacks to destroy the Jewish State.

He further stated that anyone who recognizes Israel will burn in the fire of the fury of Islamic nations.
 
This is not the first time the Iranian leadership has called for the destruction of Israel.

On December 14, 2001, former Iranian leader Rafsanjani threatened Israel with nuclear attack, saying that the use of even one nuclear bomb inside Israel would destroy that country, while it would do little harm to the Islamic world. 
                                 
Given the Iranian regime’s history of acting on its declarations, we should be under no illusions regarding its intentions.

And its intensions are to get a nuclear weapon.

In fact, they’re even taking out advertisements for it!

Let me show you this very revealing ad that appeared this year in May issue of The Economist.

As they say: “a picture is worth a thousand words.”

Even as the International Atomic Energy Agency reported that:

“gaps remain in the Agency’s knowledge with respect to the scope and content of Iran’s centrifuge programme…including the role of the military in Iran’s nuclear programme…”

and voiced concern regarding “undeclared nuclear material and activities in Iran,”

and even as additional sanctions were being considered against Iran by the United Nations Security Council,

this request for proposals for two new, large nuclear plants appeared in a major Western magazine!

Let me point out that the ad clearly identifies the name of the bank- of a European bank.

For the record, it is Austria Bank – Creditansalt, and the account number is clearly evident.

For over 5 years, Iran has been manipulating the international community, buying time to expand and to hide its nuclear program.

And it is making rapid progress.

The International Atomic Energy Agency’s report of August 30, 2007 stated that Iran is running almost 2000 centrifuges, with as many more being tested or under construction, indicating that it has overcome many of the roadblocks to manufacturing nuclear fuel, including weapons-grade material.

The estimate of the IAEA, however, may be too conservative. 

Iranian leader Ahmadinejad put the number of centrifuges at 3,000 and said the program was making great strides.

His comments underscore his regime’s intense focus on its nuclear weapons program and should increase our sense of urgency.

When thinking of the consequences of an Iranian nuclear bomb, we must always remember that Iran is the number one state sponsor of terrorism, supplying weapons, funding, training, and sanctuary to terrorist groups such as Hezbollah and Hamas that have murdered countless civilians and threaten our allies in the region and elsewhere. 

Iran continues to supply the Shiite Islamist groups in Iraq with money, training, and weapons that fuel the sectarian violence.

Iran is responsible for the deaths of many U.S. troops by providing the resources and materials used for Improvised Explosive Devices, or IEDs, and other much more powerful weapons.

Iran is also supplying the Taliban with weapons to use against our troops serving in Afghanistan.

My daughter-in-law is proudly wearing our nations’ uniform in Afghanistan.

Iran’s activities are a threat to her and all serving.

However, Tehran’s pursuit of these destructive policies has one weakness, namely its dependence on the revenue derived from energy exports.

For that reason, the U.S. has targeted Iran’s energy sector, attempting to starve it of foreign investment.

U.S. law prohibits American firms from investing in Iran, but foreign entities continue to do so.

To address that problem, my distinguished colleague, Chairman Lantos, and I introduced the Iran Freedom Support Act, which was enacted into law in September of last year.

The legislation under consideration today, H.R. 1400, builds upon that foundation; reiterates the application of Iran Sanctions Act (ISA) to parent companies of foreign subsidiaries that engage in activity that ISA would prohibit for U.S. entities.

This bill before us expands the application of ISA sanctions to any “financial institution, insurer, underwriter, guarantor, any other business organization, including any foreign subsidiaries of the foregoing.” 

Mr. Speaker, this bill also enlarges the scope of ISA sanctions to include the sale of oil or liquefied natural gas tankers.

In addition, this legislation states the Sense of the Congress that the U.S. should prevent foreign banks from providing export credits to foreign entities seeking to invest in the Iranian energy sector. 

And in line with the Iran Freedom Support Act, which urged the President to instruct the U.S. Ambassador to the UN to push for United Nations Security Council sanctions against Iran, this bill before us commends the UN Security Council for its previous actions and urges additional action.  

H.R. 1400 also restricts U.S. nuclear cooperation with any country that as helps Iran's nuclear program or transfers advanced conventional weapons or missiles to Iran. 

This puts countries seeking to maintain good relations with the U.S. notice that we will not allow ourselves to be used as indirect purveyors of nuclear assistance to Iran.

Finally, let me emphasize that this bill speaks directly to the people of Iran.

The regime in Tehran continues its brutal crackdown on human rights advocates; on religious and ethnic minorities; on opponents in the universities; in the press; and on dissidents in general.

To address their plight, H.R. 1400 expresses the unwavering support of the American people for the tens of millions of Iranians suffering under a brutal, medieval regime. 

We must always remember that we share a common enemy – the regime in Tehran – and a common goal, which is freedom.

I thank the Chairman of the Committee for his leadership on this issue.

I strongly urge my colleagues to support its adoption.