IRAN THREAT REDUCTION AND SYRIA HUMAN RIGHTS ACT OF 2012; Congressional Record Vol. 158, No. 118

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IRAN THREAT REDUCTION AND SYRIA HUMAN RIGHTS ACT OF 2012

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speech of

HON. RUSH D. HOLT

of new jersey

in the house of representatives

Wednesday, August 1, 2012

Mr. HOLT. Mr. Speaker, I rise in support of the amended version of

\[H.R. 1905\](https://www.congress.gov/bill/112th-congress/house-bill/1905), the Iran Threat Reduction & Syria Human Rights Act.

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I am a co-sponsor of and voted for the original version of this bill

when it was on the House floor in December 2011. Since that time, the

bill has been refined in the Senate with language designed to

essentially paralyze Iran's oil sector, which has already seen its oil

exports fall by 60 percent as a result of sanctions imposed to date.

The improved bill before us even more broadly targets Iran's oil sector

and anyone who tries to do business with Iran in this area. It will

prevent the Central Bank of Iran from repatriating funds from the sale

of oil as part of bilateral trade agreements Iran may have with other

nations. Indeed, prior sanctions passed by this Congress have caused

India and Turkey to deny Iranian banks licenses to set up branches in

those nations. Finally, this bill includes sanctions targeting Syrian

officials responsible for the massacres in that nation since the Syrian

people began their uprising more than 18 months ago.

These are important steps we must take as part of a strategy to use

every means available to compel Iran to meet its international

obligations. Iran must renounce any effort to acquire nuclear weapons,

and that claim must be verified through thorough, intrusive on-site

inspections and monitoring.

I should also note that yesterday, President Obama announced a fresh

set of sanctions against Iran's energy and petrochemical sectors based

on existing sanctions law and his own authority as president. As

President Obama noted this week, \\\`\\\`The United States remains committed

to a diplomatic solution, but the onus is on Iran to abide by its

international obligations. If the Iranian government continues its

defiance, there should be no doubt that the United States and our

partners will continue to impose increasing consequences.'' The

government of Iran should understand that Congress, on a bipartisan

basis, is sending the same message by passing \[H.R. 1905\](https://www.congress.gov/bill/112th-congress/house-bill/1905). I urge my

colleagues to join me in supporting this bill.

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