Congressman Gregory Meeks Opening Statement at International Monetary Policy and Trade Subcommittee Hearing

(WASHINGTON, DC)– Congressman Gregory Meeks issued the following opening statement today at the International Monetary Policy and Trade Subcommittee on Iran Sanctions Enabling Act of 2009 (H.R.1327):

I welcome all of you to this important hearing on the Iran Sanctions Enabling Act of 2009 (H.R. 1327). This bill in many ways resembles similar bills introduced in the House and Senate last Congress. It was important then and it is important now that we have this bill as a part of a comprehensive approach to Iran’s nuclear weapons aspirations. I believe in the sticks and carrots approach when seeking a favorable outcome in foreign policy. While this bill is clearly about the sticks, I want to state for the record that there are important incentives that should be a part of efforts to stop nuclear weapons development in Iran. Some of those incentives are outlined in the most recent U.N. Security Council resolutions that ban certain aspects of trade with Iran.

As in previous versions of this bill, we are not mandating divestment with this bill but instead we are making it feasible for states to divest, and most importantly for citizens to exercise the power of the purse through their investment decisions. Specifically, this legislation makes it clear that it is the policy of the United States to support State and local governments to divest from or prohibit the investment of assets they control in persons that have investments of more than $20,000,000 in Iran’s energy sector.

These are uncertain times, for both our countries. Today we find ourselves in a relationship with Iran that is based on a long history of hostility and lack of trust. Clearly, Iranian citizens and their neighbors in the region are waiting to see the change President Obama has pledged. In fact we have already seen significant change; the Obama administration has expressed noticeably increased openness to diplomatic relations with Iran. This is a striking contrast to previous administrations. From my perspective, we have an enormous opportunity to forge a new path forward in our relationship with Iran.

We should of course proceed with caution, and we are. Iran is still not fulfilling its international obligations, and we must act accordingly. Recently, U.S. Ambassador to the U.N. Susan Rice acknowledged this point and outlined several concerns. She pointed out that the findings in a recent U.N. report that Iran's nuclear program "has military dimensions" are "troubling.” In addition, she stated to a U.N. Security Council subcommittee that deals with enforcement of sanctions against Iran, "Iran also still refuses to respond constructively to IAEA [International Atomic Energy Agency] questions about its past work to develop a nuclear weapons capability. The United States urges its fellow Security Council members not only to take note of the IAEA's serious findings but also to vigorously support the IAEA in its continuing investigations of these critical matters."

While much discussion about the U.S. and Iran focuses on our differences, we should not close our eyes to common interests. Both countries share the goal of bringing security and stability to Iraq and Afghanistan, and combating the terrorism that stems from the extreme version of Islam. Just as the U.S. recently reached out to Iran regarding Afghanistan, I believe it is possible for both sides to build on common interests in these areas.
Many of us in Washington have called for direct engagement with Iran over its efforts to acquire nuclear weapons. But direct dialogue alone will likely prove insufficient. Indeed, the legislation at hand today should be part of a comprehensive diplomatic strategy to head off security threats while also engaging the Iranian people to forge a new chapter in our bilateral relationship.

The Iran Sanctions Enabling Act of 2009 would place economic pressure on the Iranian regime with the goal of halting Iran’s nuclear program. This divestment bill is designed to persuade foreign companies from investing in energy operations whose profits could be used to threaten the United States and our allies. Without mandating that they do so, this legislation recognizes the right and maximizes the ability of Americans to speak out through their investment decisions about their opposition to many aspects of Iranian activities.

As I have watched the situation in Iran with great interest in the past few years, along the way I have developed a tremendous appreciation for the work of the National Iranian American Council. I am pleased that we will hear the perspective of NIAC’s President, Mr. Trita Parsi. This group is on the front lines, providing the infrastructure for building bridges between Iranian-American organizations and the peoples of America and Iran.

I also appreciate the testimony of Mr. Orde Kittrie, who is a distinguished expert on legal matters related to non-proliferation; Mr. Jason Isaacson, a leading advocate on U.S.-Israel relations and the search for Middle East peace; and Mr. Ted Deutch, a Florida state senator who spearheaded legislation that made Florida the first state to force its pension fund to divest from companies doing business in Iran's energy sector.

I look forward to hearing the expert analysis by today’s witnesses. Thank you.