White House officials voiced opposition Wednesday to a Senate bill that would impose additional sanctions against Iran should negotiations to place limits on the Islamic Republic's nuclear program fail. At a hearing of the Senate Committee on Foreign Relations, U.S. officials told lawmakers that the proposed measure could permanently derail the talks and undermine the White House's ability to maintain international support needed to enforce economic sanctions against Iran. According to a draft version, the Nuclear Weapon Free Iran Act would reinstitute the energy and financial restrictions suspended as part of the negotiations and end exemptions to U.S. sanctions for...
In response to White House overtures, Senate Democrats agreed Tuesday to hold off consideration of an Iran sanctions bill until after a March deadline to reach a deal on the Islamic Republic's nuclear program.
Even with limited sanctions relief from the United States, foreign banks have been reluctant to process transactions for Iran under the terms of a newly-extended multilateral accord, an American official said Tuesday.
Governmental documents published Monday cleared the way for foreign financial institutions to process limited transactions for Iranians but U.S. banks will be unlikely to relax their sanctions policies, according to experts.
Western financial institutions won't radically amend their sanctions controls in response to an agreement to limit Iran's nuclear program in exchange for a relaxation of banking restrictions, say former officials.