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Senate Passes Tough New Iran Sanctions - Corruption Currents - WSJ

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The U.S. Senate on Friday passed legislation that further tightens sanctions on Iran in a bid to halt Tehran’s nuclear program.

The legislation, an amendment to the annual defense authorization bill, passed with a unanimous 94-0 vote. Six senators didn’t vote. Should the sanctions become law, they would be the third round of measures imposed this year.

The new measures target Iran’s energy, shipping and shipbuilding sectors, already in the sights of U.S. sanctions. But the legislation goes further, restricting trade with Iran in precious metals, graphite, aluminum and steel, metallugrical coal and software for integrating industrial processes.

Under the bill, the President would have to report back to Congress on whether any material was being used as barter to furnish transactions with Tehran. Turkey acknowledged in November that a surge in its gold exports this year is related to payments for imports of Iranian natural gas.