AJC Applauds Senate Bill to Sanction Iran's Central Bank

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Dec 02, 2011, 04:29 ET

NEW YORK, Dec. 2, 2011 /PRNewswire-USNewswire/ -- AJC applauded the Senate for passing unanimously the Menendez-Kirk Amendment, which would prohibit the U.S. from doing any business with Iran's Central Bank.

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The Senate measure will sanction financial institutions that do business with the Central Bank of Iran. In doing so, it will have a direct impact on Iranian oil exports since countries transmit their payments through the Central Bank. The amendment, introduced by Senators Mark Kirk (R-Illinois) and Robert Menendez (D-New Jersey), was adopted unanimously as part of the National Defense Authorization Act for Fiscal Year 2012 (S.1867).

"This legislative initiative, focused on the heart of Iran's banking system, ratchets up the intensity of American sanctions that are vital to a global effort to stop Iran's nuclear weapons program," said AJC Executive Director David Harris. "That program poses a profound regional and global danger. It is imperative that the House agree to include this initiative in the Defense Authorization Conference Report so the U.S. can continue to lead the growing call for concrete actions against Iran."

The Senate action is the latest in a series of new U.S. measures following last month's IAEA report confirming that Iran is building nuclear weapons capability. Great Britain has severed its own dealings with Iran's Central Bank. France is calling on the EU to act in unison to end business with the central bank as well as to stop oil imports from Iran.

SOURCE American Jewish Committee