On November 30, 2012, the United States’ Senate passed the Menendez amendment (SA 3232) adding stronger Iran sanctions to the National Defense Authorization Act. Key features of the amendment, drafted by Senators Robert Menendez, Mark Kirk, and Joe Lieberman, according to Robert Menendez’ website, are that it:
- Designates Iran’s energy, port, shipping, and ship-building sectors as entities of proliferation due to the role they play in supporting and funding Iran’s proliferation activities
- Imposes sanctions on persons selling or supplying a defined list of commodities to Iran – commodities that are relevant to Iran’s ship-building and nuclear sectors such as graphite, aluminum, steel, metallurgical coal and software for integrating industrial processes
- Designates the Islamic Republic of Iran Broadcasting entity and its President as human rights abusers for their broadcasting of forced televised confession and show trials
It adds that:
To address concerns about access to humanitarian goods in Iran there are exceptions for the provision and sale to Iran of food, agricultural commodities, medicine, medical devices and other humanitarian goods AND the amendment imposes new human rights sanctions on those in Iran who are engaged in corruption or the diversion of resources related to these goods and that are preventing them for [sic] reaching the Iranian people.
Responding to the Senate’s vote in favor of the amendment (by 94-0), Menendez said, “I applaud my colleagues…for joining us in sending a clear message to Iran: you can’t just try to wait us out. The waiting game is over and, in the end, one way or the other, Iran will not be allowed to acquire a nuclear weapon with which to threaten the United States, Israel, the region, and the world.”
Michael Burton, partner at the law firm Arent Fox and co-chair of the American Bar Association’s (ABA) Export Controls and Economic Sanctions Committee said:
“The Senate has yet to pass the NDAA, but as they obtained closure on December 3, the vote on final passage may occur soon. And then the House must agree to it – it’s possible a conference would have to be convened – so passage isn’t a sure thing yet.”
Source: http://www.worldecr.com/news
Yet another bank is being fined for violating U.S. sanctions by conducting business with Iran. According to Reuters, Asian-focused bank Standard Chartered is expected to pay $330 million to settle a case with U.S. regulators.
