Chairman Royce Statement on Implementation of Tighter Sanctions against Iran

Feb 6, 2013

Washington, D.C. – U.S. Rep. Ed Royce (R-CA), Chairman of the House Foreign Affairs Committee, issued the following statement on today’s implementation of tighter Iran sanctions provisions included in the Iran Threat Reduction and Syrian Human Rights Act of 2012:

“Iran is a global threat.  These new and far-reaching sanctions against Iran, stemming from a law that I strongly supported, are essential to halting the Iranian regime’s dangerous policies.  These provisions that take effect today will increase the economic pressure on the Iranian regime, helping starve it of the hard currency needed to continue its pursuit of a nuclear weapons capability. 

“Today’s development gives us a better chance of avoiding a nuclear Iran, and I urge the Administration to robustly implement and enforce this provision of law.” 

Note: The Iran Threat Reduction and Syrian Human Rights Act of 2012 (H.R. 1905) was signed into law in August of last year.  The provision within that legislation that takes effect today prohibits any country that currently imports Iranian oil (under an exemption in current law) from doing so unless it settles its trade balance with Iran through the export of trade goods and not hard currency.

 

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