House Lawmakers to Introduce Sanctions Bill Targeting Iranian Banks in March, Say Sources

By Colby Adams

U.S. House lawmakers are working to introduce a new round of comprehensive sanctions against Iran by March in an effort to curtail the country's alleged nuclear weapons program, say sources. The legislation, which is currently being drafted by the chairman and ranking member of the House Foreign Affairs Committee, would target Iran's banking industry and extend the sector-based sanctions included in the 2013 National Defense Authorization Act (NDAA) to other strategic sectors of the Iranian economy, according to an individual familiar with the initiative. Passed last month and set to take effect in June, sanctions provisions of the NDAA will...