USA*Engage Urges Senate to Reject House Approach to Iran Sanctions

Wednesday, 26 April 2006
“It is tremendously important for the United States to take a firm stand against a nuclear Iran,” said National Foreign Trade Council (NFTC) President Bill Reinsch.  “The provisions of this bill, however, do nothing to impact Iran’s behavior.  Instead, they would remove the vital flexibility of U.S. sanctions policy and drive a wedge between U.S. and our allies in our joint efforts to influence the Iranian regime.”

The organization’s concerns are discussed in a letter sent earlier this week to each Member of the House, which can be viewed at www.usaengage.org.  Criticisms of the bill’s provisions include:
  1. The removal of the sunset provision included in the earlier Iran Libya Sanctions Act.   
  2. The expansion of sanctions to insurers, creditors and foreign subsidiaries.
  3. The creation of new capital market sanctions that would discourage foreign investment in the United States and could potentially damage U.S. business interests abroad.
  4. Concerns that the sanctions hinder the flexibility of the President to conduct foreign policy.

“Unilateral measures harm relations with our allies without achieving the results we all desire,” Reinsch said.  “We all want to address the very serious challenges that Iran presents, but this bill makes it all that much harder to achieve the type of international consensus that would help us move achieve a positive solution,” Reinsch concluded.


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USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide.

 

The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.