October 29th, 2009 by Jason

The Senate Banking Committee unanimously voted in favor of tightening sanctions on Iran. The Comprehensive Iran Sanctions, Accountability and Divestment Act of 2009 (S. 908) builds upon the Iran Sanctions Act of 1996 by strengthening controls against sensitive technology exports to Iran, freezing assets of the Iran’s Revolutionary Guard Corps, banning all Iranian imports and imposing sanctions on companies who help Iran acquire refined petroleum products. Senator Bob Corker (R-Tenn.) stated the legislation provides “probably the only worthwhile sanctions that are left before we potentially take military action,” but also admitted that unilateral sanctions would have “almost no effect.”

According to Mark Dubowitz of the Foundation for the Defense of Democracies, “the legislation provides real teeth to a comprehensive economic warfare strategy against the Iranian regime.”  While popular in Congress, the plan to increase sanctions also has its critics, most notably opposition leader Mir Hossein Moussavi (see our previous post), who worry sanctions will disproportionately hurt the Iranian people while not affecting the regime.

Posted in Congress, Iran, Oil, US foreign policy, US politics, sanctions |