The President’s action demonstrates American resolve to escalate economic pressure on Iran to persuade Tehran to halt its nuclear weapons quest.The new measure authorizes sanctions on foreign financial institutions that deal in Iranian currency, provide goods or services to the Iranian automotive sector or provide material support to sanctioned Iranian entities.AIPAC also commends the Treasury and State Departments’ efforts to increase sanctions enforcement. Today, the Treasury Department sanctioned a shadowy network of more than three dozen companies controlled by Iran’s leadership that generated billions of dollars for the regime. Since March, the administration has sanctioned multiple schemes to evade measures targeting Iran’s energy and transportation sectors. Sanctions have been imposed on entities buying Iranian petrochemicals, entities aiding Iran’s nuclear program and individuals that violate the human rights of Iranians citizens. For the first time, the United States targeted an exchange house and trading company that were supporting sanctioned Iranian banks.We urge the administration to continue escalating the pressure on Iran and those individuals, companies and countries that violate our sanctions. In particular, countries that fail to significantly reduce their purchases of Iranian crude oil must be held accountable. We also urge the administration to continue to emphasize that the US is prepared to use all available measures to prevent Iran from acquiring a nuclear weapons capability.
June 4, 2013 at 4:02 PM EDT