On Thursday, the Senate Banking Committee will officially start work on a new sanctions bill against Iran, and senators are set to add even more sanctions to the bill as it goes through the legislative process -- including measures that directly target President Mahmoud Ahmadinejad and Supreme Leader Ayatollah Ali Khamenei.
The Banking Committee will mark up the Johnson-Shelby Iran Sanctions, Accountability and Human Rights Act of 2012, named after committee heads Sens. Tim Johnson (D-SD) and Richard Shelby (R-AL), who will lead Thursday's proceedings. The bill will pile on more punitive measures against Iran's energy, shipping, and mining sectors, while punishing a broader range of Iranian government officials for their involvement in human rights violations.
President Barack Obama's administration is still working to implement the last round of Iran sanctions that was signed into law, which included the Menendez-Kirk sanctions on the Central Bank of Iran that were added to the defense authorization bill in December by a 100-0 vote. But the Senate has no intention of giving the administration a breather, and Thursday's mark-up is the beginning of a new and aggressive push to tighten the noose on Tehran and further damage the Iranian economy.
"Iran's continuing defiance of its international legal obligations and refusal to come clean on its nuclear program underscore the need to further isolate Iran and its leaders," Johnson said in statement about the bill.
The bill would sanction anyone who provides Iran with equipment or technology that facilitates censorship or the suppression of human rights, including weapons, rubber bullets, tear gas, and other riot control equipment -- as well as jamming, monitoring, and surveillance equipment. It also calls on the administration to develop a more robust Internet freedom strategy for Iran and speed related assistance to pro-democracy activists in the country.
The legislation would also formally establish that U.S. policy is intended to prevent Iran from obtaining a nuclear weapon, and would require the administration to report extensively and repeatedly on its efforts to increase diplomatic and financial pressure on the Iranian regime.
Johnson and Shelby's bill expands sanctions to cover companies involved in joint ventures with Iran that aid the country's energy sector, targets any Iranian joint ventures involving uranium mining, authorizes the administration to target corporate executives of sanctioned firms, and requires U.S. companies to report to the SEC business they have with any Iranian firms that could fall under sanctions.
The Banking Committee bill is a scaled-down version of the Iran, Syria, North Korea Sanctions Consolidation Act, sponsored by Sens. Robert Menendez (D-NJ), Jon Kyl (R-AZ), Joe Lieberman (I-CT), Mark Kirk (R-IL), Kirsten Gillibrand (D-NY), Bob Casey (D-PA), and Scott Brown (R-MA). The Syria and North Korea provisions in that bill were left out of the Banking Committee's version so there wouldn't be any jurisdictional confusion between the Banking Committee and the Foreign Relations Committee.
Several senators are set to offer amendments on Thursday to strengthen the Johnson-Shelby bill even further. Although negotiations are still ongoing, a list of the amendments in the queue as of Wednesday afternoon was obtained by The Cable.
Among the amendments that could be considered in committee on Thursday is an amendment by Menendez, offered on behalf of himself and Kirk (who is in Chicago recovering from a stroke) that would impose immigration restrictions on Ahmadinejad, Khamenei, and a host of other senior Iranian government officials. The amendment would also trigger visa restrictions on Ahmadinejad and Khamenei, although those restrictions could be waived for U.N. meetings in New York.
A separate amendment by Menendez and Sen. Roger Wicker (R-MS), also offered on behalf of Kirk, would sanction banks with officers on the board of the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the organization that handles the bulk of international electronic bank transfers, if SWIFT doesn't stop processing transactions for Iranian banks.
Another Menendez amendment would require the Treasury Department to determine whether the Iranian National Oil Company and the Iranian National Tanker Company are tied to the Islamic Revolutionary Guard Corps. If they are, those two companies would then be sanctioned as well, which could wreak further havoc on Iran's economy.
"This is a reminder that there are still more stones left unturned and there are still more ways to increase the pressure on an already extraordinarily pressured Iranian economy," a senior Senate aide told The Cable. "In bipartisan fashion, the Senate is moving to do just that."