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(AP-Washington Post) Republicans and Democrats are pressing ahead with sanctions that would target foreign banks that do business with Iran's Central Bank. Tough sanctions are the most viable option short of a military strike on Iran. The sanctions measure sponsored by Sens. Mark Kirk, R-Ill., and Bob Menendez, D-N.J., was added to a broader defense bill now the subject of closed-door negotiations. Few lawmakers, even Democrats, have argued the administration's case for weakening the sanctions. "I think Democrats are scratching their heads that the administration is leading them into a policy provision which not a single Democratic senator can support," Kirk said in an interview. He said he spoke to the chairman of the House Armed Services Committee, Rep. Howard "Buck" McKeon, R-Calif., on Thursday and he indicated that the House negotiators would accept the sanctions provision. "The goal...is to inflict crippling, unendurable economic pain over there. Iran's banking sector - especially its central bank - needs to become the financial equivalent of Chernobyl: radioactive, dangerous and most of all, empty," said Rep. Gary Ackerman, D-N.Y. 2011-12-09 00:00:00Full Article
Congress Rebuffs Administration Pleas to Ease Impact of Sanctions on Iran
(AP-Washington Post) Republicans and Democrats are pressing ahead with sanctions that would target foreign banks that do business with Iran's Central Bank. Tough sanctions are the most viable option short of a military strike on Iran. The sanctions measure sponsored by Sens. Mark Kirk, R-Ill., and Bob Menendez, D-N.J., was added to a broader defense bill now the subject of closed-door negotiations. Few lawmakers, even Democrats, have argued the administration's case for weakening the sanctions. "I think Democrats are scratching their heads that the administration is leading them into a policy provision which not a single Democratic senator can support," Kirk said in an interview. He said he spoke to the chairman of the House Armed Services Committee, Rep. Howard "Buck" McKeon, R-Calif., on Thursday and he indicated that the House negotiators would accept the sanctions provision. "The goal...is to inflict crippling, unendurable economic pain over there. Iran's banking sector - especially its central bank - needs to become the financial equivalent of Chernobyl: radioactive, dangerous and most of all, empty," said Rep. Gary Ackerman, D-N.Y. 2011-12-09 00:00:00Full Article
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