AIPAC Welcomes New U.S. Sanctions on the Central Bank of Iran and NIOC

FOR IMMEDIATE RELEASE
Contact: Adam Harris, aharris@aipac.org
August 1, 2012

AIPAC Welcomes New U.S. Sanctions on the Central Bank of Iran and NIOC

 


AIPAC welcomes the Administration's announcement that it is targeting two foreign banks that helped Iran evade sanctions. The U.S. must now urge the European Union to follow suit, preventing those banks from using the SWIFT financial messaging service. The Administration also targeted Iran's Central Bank and designated the National Iranian Oil Company (NIOC), subjecting foreign entities that conduct significant financial transactions with NIOC to U.S. sanctions and forcing them to choose between continuing to do business with Iran and losing access to the United States.

The announcement comes as more than 155 House members have joined House Foreign Affairs Committee Chair Ileana Ros-Lehtinen (R-FL) and Ranking Member Howard Berman (D-CA) in calling for the immediate implementation of sanctions against NIOC. Revenue derived from NIOC’s export of oil provides Tehran the resources to carry out its nuclear program and support the terrorist groups Hamas and Hizballah.

As Congress prepares to vote on the Iran Threat Reduction and Syria Human Rights Act, we continue to urge the full implementation of both existing sanctions and the crippling sanctions contained in the new legislation. The maximum economic pressure must be exerted to persuade Tehran to change course.

AIPAC strongly supports the Iran Threat Reduction and Syria Human Rights Act and applauds its authors, Sens. Tim Johnson (D-SD) and Richard Shelby (R-AL), and Representatives Ileana Ros-Lehtinen (R-FL) and Howard Berman (D-CA). This legislation will place virtually all of Iran's energy, financial, and transportation sectors under U.S. sanctions. It represents the strongest set of sanctions ever enacted to isolate a country with which we are not in armed hostilities.


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Consistently ranked as the most influential foreign policy lobbying organization on Capitol Hill, AIPAC is a bipartisan American membership organization that seeks to strengthen the relationship between the United States and Israel. For more than 50 years, AIPAC has been working with Congress to build a strong, vibrant relationship between the U.S. and Israel. With more than 100,000 members across the United States, AIPAC works throughout the country to improve and strengthen that relationship by supporting U.S.-Israel military, economic, scientific and cultural cooperation.