Iran Threat Reduction and Syria Human Rights Act of 2012

Floor Speech

Mr. VAN HOLLEN. Mr. Speaker, I rise in support of the conference agreement for H.R. 1905, the Iran Threat Reduction and Syria Human Rights Act of 2012, a bill of which I am a cosponsor. In addition to imposing sanctions on anyone found to be guilty of committing or contributing to the repression or abuse of the human rights of the Syrian people, this measure also continues the congressional efforts to apply pressure to the government of Iran for its nuclear enrichment activities.

Mr. Speaker, yesterday the president announced the application of new sanctions on the Iranian oil industry and on Chinese and Iraqi banks for helping Iran to circumvent the global sanctions regime. These sanctions are a part of an escalating series of penalties against Iran. In June, the U.S. imposed a round of sanctions targeting any foreign country that buys Iranian oil. Then, in early July, the EU, a major market for Iranian oil, put in place a complete embargo of oil imports from the country.

Since the effort began, Iranian oil production has declined by a million barrels a day, its exports have fallen by about 50 percent and its currency has plunged more than 40 percent against the dollar. Today, the House meets to further tighten the sanctions on Iran's energy, shipping and insurance sectors. This package of sanctions will be the most comprehensive passed to date. Virtually all of Iran's energy, financial, and transportation sectors will be subject to U.S. sanctions and any company that does business in these sectors will run the risk of losing access to U.S. markets.

The economic sanctions imposed on Iran have succeeded in bringing the Iranians to the negotiating table. It remains to be seen whether the Iranians are simply engaged in stall-tactics or are willing to end their effort to produce weapons-grade nuclear material.

As President Obama has made clear, it is unacceptable for Iran to develop a nuclear weapon. The U.N. Security Council has passed numerous resolutions demanding that Iran comply with the Nuclear Nonproliferation Treaty and suspend its nuclear enrichment activities. The IAEA has repeatedly found Iran to be in violation of the U.N. resolutions.

A nuclear-armed Iran would pose a grave threat to the State of Israel, a country the President of Iran has stated should ``be wiped off the map.'' A nuclear Iran could also trigger a nuclear-arms race in the Middle East that would further destabilize an already volatile region. It is in the national security interests of the United States to prevent Iran from obtaining nuclear weapons.

By most accounts, the sanctions passed by Congress have ratcheted up pressure on the Iranian government. But Iran continues to increase its stockpile of enriched uranium. This bi-partisan measure is necessary to give the President additional tools to penalize the Iranian regime for its continual refusal to heed the objections of the international community.

I encourage my colleagues to join me in support of this conference agreement.

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