AP, Washington, 6 March 2012 – A congressional aide says lawmakers will seek to levy sanctions on all Iranian banks, part of a sweeping effort to push the Obama administration to squeeze the Islamic republic`s economy further.
The aide says House and Senate lawmakers would soon introduce bipartisan legislation compelling the administration to expand U.S. sanctions to every Iranian bank.
More than 20 Iranian banks already are subject to sanctions under Treasury Department rules, but several other Iranian institutions still are able to do business worldwide.
The aide said legislation also would sanction government-owned foreign financial institutions, including foreign central banks, that engaged in non-oil transactions with Iran.
A second person briefed on the matter confirmed the legislative plans. Both sources spoke on the condition of anonymity because they were not authorized to speak publicly.