MEDIA CONTACT:
STEVEN ENGELHARDT (314) 504-4029
FOR IMMEDIATE RELEASE:  THURSDAY 6.24.10

Clay Backs Powerful New Iran Sanctions
Comprehensive Package Targets Revolutionary Guards, Nuclear Program

WASHINGTON, DC- Congressman Wm. Lacy Clay (D) Missouri joined a huge bipartisan majority in the U.S. House today to pass H.R, 2194, the Comprehensive Iran Sanctions, Accountability & Divestment Act.  The conference report, which was approved by a vote of 408 – 8, is designed to convince Iran’s leaders to halt their uranium enrichment program and end their pursuit of nuclear weapons.

“This is by far the toughest, most comprehensive action against the current Iranian leadership that we have ever taken,” said the Congressman.  “It will give the President powerful new tools to persuade them to abandon their reckless and dangerous pursuit of nuclear weapons.  I have constantly spoken out for human rights and against the brutality and oppression of the cruel regime in Tehran, and I will continue to strongly oppose Iran’s obvious efforts to obtain a nuclear weapon and the means to deliver it.”  The act is also intended to punish foreign companies that sell Iran goods, services or technology that benefit its energy sector.

Key aspects of the legislation:

--Expands the scope of the 1996 Iran Sanctions Act by penalizing foreign companies that assist Iran's energy sector. While Iran is a major exporter of oil, it relies heavily on imports for its refined products such as gasoline.
 
--Bans U.S. banks from dealing with foreign banks doing business with the Revolutionary Guard or aiding Iran's nuclear program.

--Provides a legal framework for states, local governments and other investors to divest their portfolios of foreign companies involved in Iran's energy sector.

The legislation also imposes penalties on Iran’s worst human-rights abusers and sanctions foreign entities that provide Iran with the means to stifle freedom of expression.  The act also stipulates that the current general prohibition on exports to Iran shall not apply to the export of software and services for personal communications and internet access, which will directly benefit those in opposition to the regime including the “Green Movement”.
This powerful package of new sanctions against Iran supports and augments the ongoing multilateral efforts by the U.N. Security Council, the European Union, and others. 

-30-