September 21, 2010

CARDIN CO-SPONSORS MEASURE TO STRENGTHEN ECONOMIC SANCTIONS AGAINST IRAN

Bill targets companies drilling in U.S. federal waters engaged in joint ventures with Iran

WASHINGTON, DC - U.S. Senator Benjamin L. Cardin, a member of the Senate Foreign Relations Committee, today announced his support for legislation strengthening enforcement of existing U.S. and multilateral economic sanctions against Iran passed earlier this summer.  The Gulf Security and Iran Sanctions Enforcement Act was introduced today by Senator Kirsten Gillibrand (D-NY).

 

"The recently enacted sanctions send a powerful message to the Iran.  However, we must remain vigilant in the enforcement of their implementation to ensure that the sanctions help halt Iran's nuclear ambitions.  I am disappointed by the Iranian regime's continued defiance of the international community.  Their increasingly desperate rhetoric only serves to demonstrate their economic isolation.  Our continued goal is to prevent Iran from becoming a nuclear threat to Israel, the United States, and the world.  We must do all we can to prevent Iran from moving further down their dangerous path and I am proud to be an original cosponsor of this strong legislation.

 

"Despite strong bipartisan sanctions that were passed against the Iranian regime this summer, the Iranian government has actively sought to avoid these sanctions through joint ventures and partnerships with foreign companies, and investing in energy projects in Europe and Asia.  To shine a spotlight on those companies working with Iran to circumvent these sanctions, this new legislation would require companies that apply for drilling permits in U.S. federal waters to certify that they do not engage in any illegal activity in Iran, and to disclose any partnership with a company designated by the Treasury Department as a supporter of terrorism or a 'proliferator of Weapons of Mass Destruction.'"