The U.S. House of Representatives passed a measure Thursday that would give lawmakers a framework to review the Obama administration's sanctions-related nuclear agreement with Iran. Separately, the House unanimously passed a bill aimed at punishing foreign banks that provide financial services to Hezbollah, a Lebanese-based militant group backed by Iran and blacklisted by the United States. Passing the bills together is a "one-two punch" against Iran, Rep. Ed Royce (R-CA), chairman of the Foreign Affairs Committee, said during floor debate Thursday. Under the Iran Nuclear Agreement Review Act of 2015, lawmakers would have 30 days to review and vote on...
U.S. officials are increasingly relying on economic sanctions as a tool of foreign policy, but the effectiveness of sanctions in achieving policy objectives is questionable, according to Bryan Early, political science professor at University at Albany.
Iran and six nations outlined a possible permanent accord Thursday that would impose long-term limits on the Islamic republic's nuclear program in exchange for the lifting of nearly all Western and U.N. sanctions.
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.