Congressman Gregory W. Meeks On Passing of Comprehensive Iran Sanction, Accountability and Divestment Act

(WASHINGTON, DC)– Congressman Gregory W. Meeks (NY-6), Senior Member of the House Committee on Foreign Affairs, House Committee on Financial Services and Chairmen of the Subcommittee on International Monetary Policy and Trade, is extremely pleased of today’s passing of the Comprehensive Iran Sanctions, Accountability and Divestment Act, H.R. 2194. This act would strengthen the underlying Iran Sanctions Act (ISA) by imposing an array of tough new economic penalties aimed at persuading Iran to change its conduct.

Primary targets of the act include companies selling refined petroleum and refining products to Iran, as well as international banks that do business with Iran’s most notorious actors. In a mandatory new banking sanction, the Act takes aim specifically at businesses providing any financial services for the Islamic Revolutionary Guards Corps and other entities blacklisted by the U.S. Department of Treasury.

In addition to new financial sector and refined petroleum-focused sanctions, the Act would also provide a legal framework by which U.S. states, local governments, and certain other investors can divest their portfolios of foreign companies involved in Iran’s energy sector and establishes a mechanism to address concerns about diversion of sensitive technologies to Iran through other countries.

Please click on the link below to see Congressman Meeks remarks at the Iran Sanctions House-Senate Conference Committee.

https://www.house.gov/list/press/ny06_meeks/PR04282010.shtml

Now serving in his sixth full-term, Meeks was elected to the House on February 3, 1998. Representing New York's Sixth Congressional District in the United States House of Representatives, Meeks' district covers all towns of Southeast Queens, Far Rockaway and Howard Beach. He is a member of the House Committee on Financial Services and the Committee on Foreign Affairs. Congressman Meeks is the Chairman of the International Monetary Policy & Trade Subcommittee of the House Financial Services Committee. He is a Member of the Congressional Black Caucus (CBC), New Democrats Coalition and the Democratic Leadership Council (DLC). He serves as the Co-chair of the Malaysia Caucus, Services Caucus, Dialogue Caucus, OAS Caucus and the Middle East Economic Partnership Caucus.