Thursday night, all 100 U.S. Senators voted in favor of S.A.1414, an amendment to S.1867, to sanction the Central Bank of Iran. Senator Mike Lee (R-UT) cosponsored this amendment that was introduced by Senator Robert Menendez (D-NJ).
Under this legislation, foreign financial institutions that conduct financial transactions with the Central Bank of Iran will be prohibited from opening or maintaining correspondent bank accounts in the United States.
This bill is a response to the illicit activities of the Government of Iran, including its pursuit of nuclear weapons, support for international terrorism, and efforts to deceive responsible financial institutions and evade sanctions.
вЂњThe United States needs to send a clear message to the government of Iran that we will not tolerate the threats posed by the Iranian regimeвЂ™s actions,вЂќ said Senator Lee, who sits on the Foreign Relations committee. вЂњTheir pursuit of nuclear weapons poses a serious threat to the United States, Israel, and other allies. This amendment sends a clear signal to the Iranian regime that they will not be allowed to participate in the global economic system if they continue to destabilize the region.
“I call upon the Administration to take immediate action to implement these sanctions and explain President Obama’s strategy for halting Iran’s charge toward obtaining nuclear weapons.В The United States cannot afford to вЂlead from behindвЂ™ on this issue.”