WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) praised this evening’s passage of the Iran Sanctions, Accountability and Human Rights Act of 2012. The bill, which Brown helped pass through the Senate Banking Committee earlier this year, passed with unanimous bipartisan support. The legislation would put further economic pressure on Iran’s leaders to abandon their illicit nuclear program and support for international terrorism.
“As Iran becomes a greater threat to the U.S. and our allies around the world – including Israel, our most important ally in the Middle East – it’s critical that we turn up the pressure on this regime,” Brown said. “I’m glad Democrats and Republicans came together tonight so that we have a range of strong options to prevent Iran from possessing a nuclear weapon and threatening stability in the region and American interests around the globe.”
Brown cosponsored The Iran Sanctions, Accountability, and Human Rights Act, which authorizes new tools for the President to employ in an effort to pressure Iran into complying with international obligations. The legislation, which passed through the Senate Banking Committee in February, would:
- Broaden the list of available sanctions;
- Require intensified targeting of Iran’s Revolutionary Guard Corps;
- Require firms traded on US stock exchanges to disclose Iran-related activity to the Securities and Exchange Commission (SEC);
- Sanction energy and uranium mining joint ventures with Iran’s government outside of Iran;
- Penalize US parent firms for certain Iran-related activities of their foreign subsidiaries;
- Mandate sanctions for those who supply Iran with weapons and other technologies used to commit human rights abuses; and
- Provide other similar measures designed to increase pressure on Iran’s government.