H5578 CONGRESSIONAL RECORD — HOUSE August 1, 2012 Middle East, and to the entire international set of sanctions to isolate any country in the strengthens measures against those who community. Both President Obama and the world during peacetime. would aid and abet these disturbers of global United States Congress have unequivocally It is imperative that our nation takes all peace. stated that Iran must not be permitted to de- steps necessary to isolate Iran, force them to It also effectively blacklists Iran’s energy velop nuclear weapons. end their dangerous pursuit of nuclear weap- sector and anyone doing business with it. By On his visit to the Middle East this week, ons, and secure that the regime in Teheran preventing Iran from repatriating the proceeds U.S. Defense Secretary Leon Panetta stated will no longer be a threat to peace and pros- from its oil sales, this rogue government will that ‘‘sanctions are having a serious impact in perity in the Middle East. be deprived of 80 percent of its hard currency terms of the economy in Iran.’’ Iran is now Once this legislation is passed and signed earning and half of the funds used to support struggling to conduct international trade, losing into law, virtually all of Iran’s energy, financial, its national budget. markets and trading partners. Its currency has and transportation sectors would be subject to Iran has used many tricks to subvert current lost over half of its value. U.S. sanctions. Companies conducting busi- sanctions—from oil for gold swaps to selling Meanwhile, the administration continues to ness in these industries would face the possi- energy bonds to other trading and bartering expand sanctions against Tehran. Earlier this bility of losing access to U.S. markets. schemes. They have been successful because week, President Obama signed an executive I also applaud the inclusion of sanctions there are governments who care more for order to extend sanctions to anyone, using against human rights abusers in Iran and making profit from doing business in Iran than any method of payment, who purchases Ira- Syria in this legislation. The deplorable actions in preventing threats to world peace. Inter- nian crude oil—preventing Iran from circum- by the political and military leaders in Iran and national efforts to rein in the nuclear ambitions venting sanctions by using bartering and other Syria against their own people must come to of Iran have been stymied particularly by unconventional payment options. It also ex- an immediate halt and deserve global con- China. panded sanctions on buyers of Iranian petro- demnation. Despite expressing formal support for chemical products, and authorized penalties Important allies, such as the European United Nations Security Council sanctions for entities seeking to evade U.S. sanctions. Union, Canada, Australia, Japan, South against Iran since 2005, China has stepped in Also this week, the U.S. Treasury sanctioned Korea, India, and Israel, have joined the where other nations have curtailed trade with the Bank of Kunlun in China and Elaf Islamic American people in enacting sanctions against Iran. China’s Bank of Kunlun and the Elaf Is- Bank in Iraq for providing financial services to Iran. lamic Bank in Iraq have facilitated transactions Iranian banks. It is important that this Chamber say with a worth millions of dollars for Iranian banks al- Today, Congress is acting to further tighten strong, unified voice that we stand with Israel ready under sanctions. Stronger sanctions will the economic noose on the Iranian regime. during these difficult times. make such unsavory alliances more difficult. The bill under consideration today, H.R. 1905, As co-chair of the Democratic Israel Work- This is why the reformulated bill we consider strengthens and expands existing sanctions, ing Group, I call on Members from both sides today is so vital in eliminating to the extent banning any commercial activities with Iran’s of the aisle to vote in support of this bipartisan possible all avenues for Iran’s allies to play oil and natural gas sector, including helping resolution. enabler to its nuclear ambitions and to its pa- Iran ship its oil under the flag of another na- I would also like to take a moment to thank tronage of terrorist operations. tion. This bill increases sanctions targeting en- the President for his leadership on sanctions I want to congratulate House Foreign Affairs tities involved with the Iranian Revolutionary on Iran. Yesterday, President Obama signed Committee Chairman ILEANA ROS-LEHTINEN, Guard Corps and sanctions human rights of- an Executive Order that imposes new sanc- Senate Banking, Housing and Urban Affairs fenders. tions against the Iranian energy and petro- Committee Chairman TIM JOHNSON and other When coupled with existing sanctions, to- chemical sectors, as well as sanctions against members for their hard work in crafting a bi- day’s bill represents the strongest-ever effort those who are providing material support to partisan, bicameral bill that works. to financially isolate Iran. This is critical, be- the National Iranian Oil Company, Naftiran The SPEAKER pro tempore. The cause we must persuade the Tehran govern- Intertrade Company, or the Central Bank of question is on the motion offered by ment to abandon its pursuit of nuclear weap- Iran. These measures will help strengthen the the gentlewoman from Florida (Ms. ons. I strongly support utilizing our entire dip- existing sanctions regime and bring Iran that ROS-LEHTINEN) that the House suspend lomatic and economic arsenal to ensure that much closer to ending its heedless quest for the rules and agree to the resolution, Iran does not develop nuclear weapons. nuclear weapons. H. Res. 750. Today’s bill is a critical step towards in- Mr. SMITH of New Jersey. Mr. Speaker, I The question was taken. creasing pressure on the Iranian government. rise today in strong support of the House The SPEAKER pro tempore. In the I urge my colleagues to join me in strongly amendment to the previous Senate amend- opinion of the Chair, two-thirds being supporting this legislation. ment to H.R. 1905. In his 2002 State of the in the affirmative, the ayes have it. Mr. REED. Mr. Speaker, I rise today to reaf- Union Address, former President George H.W. Ms. ROS-LEHTINEN. Mr. Speaker, firm my support for sanctions to be placed Bush said that Iran was pursuing weapons of on that I demand the yeas and nays. upon Iran. Mahmoud Ahmadinejad and Ali mass destruction and exporting terror. A dec- The yeas and nays were ordered. Khamenei are once again stressing the pro- ade later, Iran’s global threat is greater than The SPEAKER pro tempore. Pursu- liferation of nuclear weapons and ballistic mis- ever. ant to clause 8 of rule XX, further pro- siles within Iran’s borders and we must take We are currently embroiled in a standoff ceedings on this question will be post- swift and strong actions against these meas- with Iran over its pursuit of nuclear capability. poned. ures. We find ourselves on the brink of conflict over f Iran is not just a threat to the United States, potential Iranian armed interference with oil JOB PROTECTION AND RECESSION but to all free countries around the globe. As and other shipments through the Strait of PREVENTION ACT OF 2012 Hormuz and its persistent threats against a country that harbors terrorists, foreign lead- Mr. CAMP. Mr. Speaker, pursuant to Israel. Even prior to 9–11, Hezbollah, sup- ers must stay vigilant and recognize Iran’s House Resolution 747, I call up the bill ported by Iran, was responsible for more practices as a national security concern. (H.R. 8) to extend certain tax relief Lastly, we must stand up against the human American deaths around the world than any provisions enacted in 2001 and 2003, and rights abuses the Iranian regime is supporting. other terrorist organization. Since 2001, Iran for other purposes, and ask for its im- Its citizens have continually been sheltered has embarked on more direct efforts to harm mediate consideration. from outside information and ideas due to American interests as evidenced by last year’s The Clerk read the title of the bill. strict governmental control. We need to inform foiled Iranian-backed assassination plot The SPEAKER pro tempore. Pursu- the regime that the Iranian citizens deserve against the Saudi ambassador to the United ant to House Resolution 747, the bill is the basic human rights as laid out by the States. considered read. United Nations. I am proud to support H.R. The current state of Iranian sanctions clearly The text of the bill is as follows: 1905 and I encourage the President to sign has not worked to reduce Tehran’s threat to H.R. 8 global peace. That’s why we need the en- this into law promptly. Be it enacted by the Senate and House of Rep- Mr. GENE GREEN of Texas. Mr. Speaker, hanced approach this legislation will take in resentatives of the United States of America in I rise in strong support of the conference re- countering efforts by Iran to evade the impact Congress assembled, port to H.R. 1905, the Iran Threat Reduction of international sanctions. H.R. 1905 as SECTION 1. SHORT TITLE. and Syria Human Rights Act of 2012. This bi- amended tightens reporting on countries vio- This Act may be cited as the ‘‘Job Protec- partisan legislation represents the strongest lating sanctions on these countries and tion and Recession Prevention Act of 2012’’. VerDate Mar 15 2010 03:29 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00052 Fmt 4634 Sfmt 0634 E:\CR\FM\A01AU7.034 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5579 SEC.