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Iran Sanctions Authors Ask White House for Tough Interpretation of Law
By Colby Adams
printThe authors of a U.S. embargo against Iran's central bank and petroleum industry called on the White House Thursday to be strict with foreign financial institutions under the law's statutes. In a letter to President Obama, Sens. Mark Kirk (R-IL) and Robert Menendez (D-NJ) recommended how the language of the law should be interpreted, including whether sanctions would apply to foreign banks that unknowingly transact for Iranians. The letter precedes expected White House guidance on the sanctions, which were signed into law on Dec. 31. The sanctions, which give the President the authority to force U.S. banks to suspend their...
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