Sens. John Cornyn (R., Texas) and Mark Kirk (R., Ill.) introduced legislation Wednesday that would impose sanctions upon the government of Iran, according to a press release.
The Iran Export Embargo Act would expand existing U.S. sanctions law by prohibiting the purchase or transfer of goods and services from any entity owned or controlled by the government of Iran and banning all transactions on behalf of such entities for the purpose of exports from Iran. The bill would block all assets of entities deemed to be government of Iran and also prohibit any insurance or reinsurance for such entities. […]
"Put simply, countries and companies around the world will be forced to choose – stop doing business with the government of Iran or stop doing business in the United States of America," Sen. Cornyn said.
The bill has already received support from 17 other Republican senators.
