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House panel passes Iran restrictions

By · June 26, 2007

The U.S. House Foreign Affairs Committee approved a bill to tighten sanctions against Iran.The bill, approved 37-1 on Tuesday in committee and referred to the full House of Representatives, would target companies that do business with Iran’s nuclear sector, severely restrict Iranian financial dealings and restrict the president’s ability to waive sanctions against U.S. companies with subsidiaries that violate its sanctions.The sole dissenter was Rep. Jeff Flake (R-Ariz.), who is close to the farm lobby noted for opposing sanctions in general.The committee also passed an amendment initiated by Rep. Gary Ackerman (D-N.Y.) that would freeze the assets of American CEOs who have more than $40 million invested in Iran’s energy sectors.

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