Explained: Existing U.S. sanctions on Iran and how to impose more

Thousands of people and companies targeted by U.S. sanctions program (representative)

Washington:

The United States has warned of new sanctions against Iran after it launched an unprecedented attack on Israel. U.S. Treasury Secretary Janet Yellen said on Tuesday that new sanctions on Tehran will be implemented within days and may focus on reducing the country’s oil export capacity. Congressional Republicans are also considering a series of bills targeting Iran.

Here are details on existing measures against Iran and possible next steps by the United States:

What is the scope of existing U.S. sanctions on Iran?

Washington’s sanctions on Iran have banned nearly all U.S. trade with the country, blocked government assets in the United States, and banned U.S. foreign aid and arms sales, according to the Congressional Research Service (CRS).

CRS said in a report last year that thousands of Iranians and foreign companies were targeted by the sanctions program as Washington sought to restrain the Iranian government and change its behavior.

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U.S. concerns include Iran’s nuclear program, human rights abuses and Iran’s support for groups the U.S. considers terrorists.

“U.S. sanctions on Iran are arguably the broadest and most comprehensive sanctions the United States has imposed on any country,” CRS said.

What else can the United States do?

Former National Security Council official Peter Harrell said options for further U.S. sanctions include targeting the flow of Iranian oil and playing a more aggressive game of “whack-a-mole” to go after Iran’s front companies and financiers.

One of the most important steps, he said, would be for Washington to get the European Union and other Western allies to impose multilateral sanctions on Tehran, since most of the current sanctions against Iran are U.S. measures.

Former President Donald Trump reinstated U.S. sanctions eased under an international deal on Tehran’s nuclear program when he withdrew in 2018.

“We have to be realistic, from a U.S. perspective, while more sanctions can always be imposed, we are in a world where real economic pressure is decreasing because we have already imposed so many sanctions,” Harrell said.

What is Congress considering?

House Republican leaders accused President Joe Biden of failing to enforce existing measures and said they would pursue a series of bills to tighten sanctions on Iran.

These include legislation that would increase congressional oversight of sanctions waivers, tighten restrictions on U.S. exports of goods and technology to Iran, and require the administration to ensure that humanitarian waivers from sanctions do not facilitate acts of terrorism or the proliferation of large-scale weapons. destroy.

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There was no immediate indication of when, if ever, the measures would become law, which would require passage by the Democratic-led Senate and signature by Democratic President Joe Biden.

The House of Representatives overwhelmingly passed a bill called the Iran-China Energy Sanctions Act late Monday that would expand sanctions on Iran by requiring annual reports to determine whether Chinese financial institutions are involved in Iranian oil transactions. It would prohibit U.S. financial institutions from opening accounts for any Chinese entity involved in these transactions.

The bill faces an uncertain future in the Senate.

The Democratic-led Senate may consider legislation of its own. The Senate Foreign Relations Committee on Tuesday passed a bill that would impose measures on foreign ports and refineries that violate U.S. sanctions by processing oil exports from Iran in a companion bill passed by the House last year.

Since 2021, the Biden administration has imposed sanctions on hundreds of individuals and entities involved in Iran-related actions.

What is the focus of current measures?

U.S. sanctions on Iran target its nuclear capabilities, energy and defense sectors, government officials, banks, and other aspects of the Iranian economy:

• The United States has imposed sanctions on the Atomic Energy Organization of Iran and other companies allegedly linked to Iran’s nuclear program, as well as dozens of banks, including Iran’s central bank.
• Washington has also targeted the National Iranian Oil Company, the Petroleum Ministry and other institutions to prevent Iran from receiving revenue from its energy sector, as well as targeting companies outside Iran, including China and the United Arab Emirates, over trade in Iranian petrochemicals and oil.
• The United States has imposed multiple rounds of sanctions on Iran’s Revolutionary Guard Corps (IRGC), its overseas Quds Force, the Department of Defense and the Armed Forces Logistics Department, as well as individuals and entities allegedly associated with these institutions. Washington has designated the Islamic Revolutionary Guard Corps and the Quds Force as foreign terrorist organizations.
• Iranian government officials, including President Ibrahim al-Rasi, have been targeted.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)