Van Hollen Statement On The Iran Sanctions Enabling Act Of 2009

Statement

Madam Speaker, earlier this month, Iran admitted the existence of a secret enrichment facility in the holy city of Qom. This development has set in motion a renewed commitment on the part of the international community to pursue more aggressive penalties against Iran for its nuclear enrichment activities. Today, as Secretary of State Hilary Clinton arrives in Moscow to solicit Russian support for more stringent sanctions against Iran, the U.S. House of Representatives considers legislation that will enable ordinary Americans to express their opposition to Iran's illegal nuclear activities.

The Iran Sanctions Enabling Act of 2009 helps to weaken Iran's vital petroleum industry by cutting off its access to global investment. The legislation enables State and local governments to divest from entities that invest more than $20 million in Iran's energy sector. Though Iran possesses large oil reserves, it has little refining capacity and the lack of refined petroleum products has often been a source of tension between its government and its people.

It is clear that arresting Iran's illegal nuclear enrichment program will require a comprehensive approach that targets Iran's important energy sector, truncates its access to the global financial system and engages its people. This legislation can help to achieve these goals. I encourage my colleagues to join me in support of this bill.

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