U.S. Senate Approves Stronger Penalties Against Iran

By REUTERS

The United States Senate approved legislation on Thursday that would let President Obama impose sanctions on Iran’s gasoline suppliers and penalize some of Tehran’s elites, a move aimed at pressing Tehran to give up its nuclear program. The sanctions would include the denial of loans and other assistance from American financial institutions to companies that export gasoline to Iran or help expand its oil-refining capacity. The penalties would extend to companies that build oil and gas pipelines in Iran and provide tankers to move Iran’s petroleum. The measure prohibits the United States government from buying goods from foreign companies that do business in Iran’s energy sector. The House has passed similar legislation, and the houses will work out the differences between the bills. Washington fears that Iran’s uranium enrichment program will be used to develop weapons, while Tehran says it is for peaceful purposes like generating electricity.