Iran General NewsUS lawmakers to push new Iran sanctions

US lawmakers to push new Iran sanctions

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AFP: Amid anti-government protests in Iran, a group of US lawmakers said late Tuesday they would introduce legislation aimed at tightening economic sanctions on the Islamic republic.

WASHINGTON (AFP) — Amid anti-government protests in Iran, a group of US lawmakers said late Tuesday they would introduce legislation aimed at tightening economic sanctions on the Islamic republic.

The measure would require US companies to disclose any of their or their affiliates’ investments in Iran that violate existing US sanctions laws in their quarterly or yearly reports to the US Securities and Exchange Commission.

The bill would also require US banks to report activities by their foreign correspondent banks — effectively intermediaries able to do business in Iran — that may fall afoul of US laws.

Democratic Senator Kirsten Gillibrand, Republican Senator Mark Kirk, Republican Representative Dan Burton and Democratic Representative Ted Deutch were to detail their proposal on Wednesday.

But in a statement late Tuesday they charged that at least eight publicly listed companies, and 18 US banks either directly or indirectly invested in Iran. They did not name the firms involved.

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