Gillibrand Takes Action to Toughen Sanctions Against Iran

Press Release

U.S. Senator Kirsten Gillibrand, a member of the Senate Foreign Relations Committee, today co-sponsored legislation to provide President Obama with expanded authority to stop Iran's pursuit of nuclear weapons. The Iran Refined Petroleum Act explicitly empowers the President to impose tough new economic sanctions on foreign firms involved in exporting gasoline and other refined petroleum products to Iran.

"Iran is one of the most serious national security challenges facing America and the entire international community," Senator Gillibrand said. "The seriousness of their actions and the words of President Ahmadinejad should not be tolerated and deserve serious response. This legislation will give President Obama the authority he needs to cut Iran's economy off from support from abroad and curb their pursuit of nuclear weapons. Until Iran halts its nuclear ambitions, it will be denied the benefits of access to the global economy."

Despite its immense oil reserves, Iran lacks the refining capacity to meet domestic consumption, forcing it to import up to 40 percent of its gasoline from other countries.

The Iran Refined Petroleum Act targets foreign companies providing the following services that would support Iran's economy:

* Sell gasoline or other refined petroleum products to Iran;
* Provide ships, shipping services or insurance for this trade;
* Finance or broker any such activity; and
* Assist Iran's efforts to increase domestic refining capacity.

The legislation also authorizes stronger penalties against these firms, including a ban on conducting business in the United States.

Senator Gillibrand joins a broad, bi-partisan group of her Senate colleagues co-sponsoring the Iran Refined Petroleum Act, including Senators Evan Bayh (D-IN), Joe Lieberman (ID-CT), Jon Kyl (R-AZ), Kit Bond (R-MO), Barbara Boxer (D-CA), Sam Brownback (R-KS), Richard Burr (R-NC), Ben Cardin (D-MD), Tom Coburn (R-OK), Susan Collins (R-ME), Russ Feingold (D-WI), Lindsey Graham (R-SC), James Inhofe (R-OK), Mike Johanns (R-NE), Amy Klobuchar (D-MN), Mary Landrieu (D-LA), Robert Menendez (D-NJ), Barbara Mikulski (D-MD), Patty Murray (D-WA), James Risch (R-ID), Charles Schumer (D-NY), Debbie Stabenow (D-MI), John Thune (R-SD), David Vitter (R-LA) and Ron Wyden (D-OR).

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