Tough New Iran Sanctions Pass House, Klein Provision Cracks Down on Companies Doing Business with Iran

Tough new Iran sanctions legislation passed the U.S. House today with an important provision authored by Congressman Ron Klein (FL-22) to crack down on companies doing business in Iran’s critical energy sector.The language in the Accountability for Business Choices in Iran Act requires companies applying for contracts with the U.S. government to affirmatively certify that they do not conduct business with Iran. Stiff penalties are in place for deceptive certifications, and companies who engage with the Iranian regime will be prohibited from doing business with the American government.

“This legislation gives companies a simple choice: do business with the United States, or do businesses with Iran,” Klein said. “Corporations engaged in business with Iran are providing a financial crutch to a rogue regime that serves as the international bank for terrorist groups and flouts the will of the international community by engaging in a headlong pursuit of nuclear weapons. We must do everything we can to prevent a nuclear-armed Iran, and the tough new sanctions passed today are a critical step toward that essential goal.”

Klein’s business provision marks the first time that any Iran sanctions legislation has required proactive action from a business. Traditionally, Iran sanctions are not implemented until designated by the President, but Klein’s provision applies immediately to all businesses seeking U.S. government contacts.

“Today, the U.S. House sent a clear message to the leaders in Iran: we refuse to stand by while you move forward with nuclear weapons programs and finance terrorism around the world,” Klein said. “By economically isolating Iran, we aim to change their behavior.”

Congressman Klein has taken the lead in introducing tough legislation to counter the threat of a nuclear-armed Iran. He has worked with colleagues from both political parties, including Republican colleagues John Mica of Florida and Mark Kirk of Illinois.

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Posted by Andrea Freygang on Dec 15 2009. Filed under Broward County, Federal Government, Fort Lauderdale, Local news, National politics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.