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US lawmakers introduce new Iran sanctions bill

 
Published on Feb 28, 2013
6:07 AM
Iranian banknotes are displayed by a vendor at the side walk of the Ferdowsi Street in Tehran, Iran, Wednesday, Jan. 23, 2013. Iran's national currency lost nearly 40 percent of its value in 2012. US lawmakers were introducing legislation on Wednesday that would tighten sanctions on Iran, even as Teheran agreed to future talks with world powers over its contested nuclear drive. -- PHOTO: AP

WASHINGTON (AFP) - US lawmakers were introducing legislation on Wednesday that would tighten sanctions on Iran, even as Teheran agreed to future talks with world powers over its contested nuclear drive.

The bipartisan House bill would allow President Barack Obama to impose penalties on foreign entities that provide Iran with goods to help maintain its struggling economy.

The Nuclear Iran Prevention Act of 2013 also would provide Mr Obama with broader authority to target strategic imports, such as mining or power generating equipment that could help Iran with its nuclear programme, which the West and Israel say is a front for weapons development.

"Iran's continued march toward nuclear weapons is the gravest threat facing the United States and our allies," said bill sponsor Ed Royce, Republican chair of the House Foreign Affairs Committee.

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