Includes Casey-Brownback Divestment provisions
WASHINGTON, DC-Following Senate passage of the Comprehensive Iran Sanctions, Accountability and Divestment Act, U.S. Senator Bob Casey (D-PA), Chairman of the Senate Foreign Relations Subcommittee on Near Eastern and South and Central Asian Affairs, released the following statement:
“The Senate has taken a key step to increase pressure on Iran. I look forward to final passage and implementation of these measures. The Administration must have and utilize all available means to target this regime which is committed to securing nuclear weapons and suppressing democratic dissent. This regime is a threat to the international community and its own people. It is past time that we hold Iran’s officials to account.
“I am especially pleased that the Senate passed provisions from the Iran Sanctions Enabling Act which I introduced with Senator Sam Brownback. These provisions allow state pension funds to divest from companies that do business in Iran. The American people do not want to support Iran’s leaders – this allows them to have a direct impact on the regime.”
The Iran Sanctions Enabling Act, introduced in May by Senators Casey and Sam Brownback (R-KS), would authorize the divestment of public pension money from companies doing business in Iran’s oil and natural gas sector.
The legislation passed by the Senate also includes the Iran Refined Petroleum Sanctions Act, cosponsored by Senator Casey, which would empower the president to impose new economic sanctions on foreign firms involved in the export of gasoline and other refined petroleum products to the Islamic Republic of Iran.
Earlier this week, Senator Casey joined a bipartisan coalition in sending a letter to President Obama urging him to impose sanctions on Iran.
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