House votes to tighten “noose” on Iran
The U.S. House of Representatives voted yesterday to tighten existing sanctions on Iran, even as its President Mahmoud Ahmadinejad was preparing to address the United Nations General Assembly.
The billed passed on a 396-17 vote, according to Fox News.
Here’s a general breakdown on what the bill is designed to do:
- Directs President Bush to determine whether the Iranian Revolutionary Guard Corps, the country’s elite paramilitary forces, should be (1) designated a foreign terrorist organization, (2) placed on the list of designated global terrorists or (3) placed on the list of weapons of mass destruction proliferators and supporters
- Gives money to the Treasury Department’s Office of Terrorism and Financial Intelligence, which monitors and cuts off the flow of money to terror groups
- Authorizes the President to carry out exchange programs with the people of Iran
- Authorizes the President to reduce U.S. contributions to the World Bank in direct proportion to funds provided by the bank to entities and projects in Iran
- Restricts nuclear cooperation with countries aiding Iran’s nuclear program or transferring advanced conventional weapons there
- Amends the Internal Revenue Code to eliminate specified geological and geophysical expense amortization benefits if petroleum-related sanctions are imposed under the Iran Sanctions Act of 1996 on any member of an expanded affiliated group whose common parent is a foreign corporation. Revises the definition of “affiliated group.”
I’m just wondering if these sanctions are going to work; apparently, they haven’t worked thus far.
Sources:Â FoxNews.com and The Library of Congress
