House, Senate negotiators agree on Iran sanctions

4:17 AM, Jul 31, 2012   |    comments
  • Share
  • Print
  • - A A A +

WASHINGTON -- House and Senate negotiators have reached agreement on a new round of sanctions for Iran.

Lawmakers filed a final bill late Monday that expands existing penalties, targeting energy, shipping and insurance sectors with punitive measures to derail Tehran's suspected push for nuclear weapons.

It would sanction many transactions related to the energy sector and prohibit Iran from transferring money back to the country from oil sales to foreign nations.

Any company shipping proliferation-sensitive goods to Iran would be subject to penalties under the bill. The bill also goes after anyone who helps Iran evade oil sanctions through reflagging of vessels and any entity that is involved in uranium mining with Iran worldwide.

Sanctions also would extend to anyone who transports crude oil from Iran and hides its origin, or carries refined petroleum products to Iran.

A House vote is expected as early as Wednesday.

Sen. Tim Johnson, D-S.D., chairman of the Senate Banking Committee, is vowing to help it pass it in the Senate before the August recess.

(Associated Press)

Most Watched Videos