Senators Demand Sanctions on Iran’s Central Bank

By JTA August 8, 2011

Nearly the entire U.S. Senate has signed on to a letter urging the Obama administration to implement sanctions targeting Iran’s central bank.

“As you know, the Iranian regime continues to pursue avenues to circumvent both U.S. and multilateral sanctions,” says the letter to be sent Tuesday and first reported Sunday by The Wall Street Journal. “In the banking sector, the Central Bank of Iran lies at the center of Iran’s circumvention strategy.”

The letter, spearheaded by Sens. Charles Schumer (D-N.Y.) and Mark Kirk (R-Ill.), has garnered signatures from more than 90 of the 100 senators.

Laws passed last year enable Obama to launch such sanctions, which would aim to cut Iran off from any banking sector that deals with U.S. markets.

The Obama administration already is sanctioning smaller banks that allegedly deal with Iran’s suspected nuclear weapons program.

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