Statement by UANI on U.S. House Legislation to Increase Sanctions on Iran

November 3, 2011

FOR IMMEDIATE RELEASE
November 3, 2011
Contact: Nathan Carleton, [email protected]
Phone: (212) 554-3296     

Statement by UANI on U.S. House Legislation to Increase Sanctions on Iran

New York, NY - United Against Nuclear Iran (UANI) President, Ambassador Mark D. Wallace, issued the following statement today regarding U.S. House legislation that would bar U.S. companies from doing business in Iran through foreign subsidiaries and require the Obama administration to investigate and possibly sanction Iran's Central Bank:

UANI applauds the House Foreign Affairs Committee for moving this important legislation forward and urges all lawmakers to adopt it as U.S. law. Just this week, Iran's own President admitted that current sanctions on Iran are achieving their objectives of hampering the Iranian economy and restricting international business.

By financially isolating Iran from the rest of the world through sanctions, the U.S. and international community have successfully raised the costs of Iran's decision to pursue nuclear weapons, support terror, and ruthlessly repress its people. Now it's time to increase that pressure even more. Fully cutting Iran off from the rest of the world is clearly the best hope for forcing the regime to change course.

Last week, UANI President, Ambassador Mark D. Wallace, and board member Frances Townsend called on U.S. lawmakers to increase sanctions against Iran, including sanctioning Iran's Central Bank and closing the foreign subsidiary loophole in current U.S. Iran sanctions law.

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