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House Approves Broad Iran Sanctions Targeting Foreign Banks, Oil Buyers
By Colby Adams
printThe U.S. House of Representatives Wednesday approved legislation that would limit White House-granted waivers to nations that purchase oil from Iran under a 2011 sanctions law. Passed by a vote of 400-20, the Iran Nuclear Prevention Act (INPA) would allow the President to exempt countries from the 2011 banking restrictions only when the nations agree to reduce their purchases of Iranian oil by one million barrels per day below current levels. The White House can currently exempt countries when they agree to "significantly" reduce those purchases every 180 days. The measure, which is expected to be considered by the Senate...
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