Schumer is One of 16 Total Senators That Will Co-Sponsor Bipartisan Iran Sanctions Bill; “Kirk-Menendez” Bill Would Impose Sanctions If No Deal is Reached
Schumer: Now is the Time for Iran to Make a Deal & If They Don’t, the Hammer of New Sanctions Will Come Down Quickly
U.S. Senator Charles E. Schumer today announced he is supporting new legislation that would impose economic pressure on Iran if international negotiations do not yield a final nuclear deal by the P5+1 June 30th deadline. The legislation, the Nuclear Weapon Free Iran Act of 2015 (S.269), was introduced byÂ U.S. Senators Mark Kirk (R-Ill.) and Robert Menendez (D-N.J.). The legislation also imposes a Congressional review period of 30 continuous session days in the event of a final deal.
A total of 16 Senators, including Schumer, will co-sponsor the Kirk-Menendez legislation, including: Senators Mark Kirk (R-Ill.), Robert Menendez (D-N.J.), Chuck Schumer (D-N.Y.), Mitch McConnell (R-Ky), Kelly Ayotte (R-N.H.), Richard Blumenthal (D-Conn.), Dan Coats (R-Ind.), Gary Peters (D-Mich.), Marco Rubio (R-Fla.), Joe Manchin (D-W.V.), Lindsey Graham (R-S.C.), Joe Donnelly (D-Ind.), Ted Cruz (R-Texas), Bob Casey (D-Pa.), Richard Burr (R-N.C.) and Roy Blunt (R-Mo.).
The negotiations with Iran, which involve the P5+1 countries (United States, United Kingdom, France, Russia, China, and Germany), were extended in November 2014 to a deadline of June 30, 2015.
“Now is the time for Iran to make a deal — one that prevents it from developing a nuclear weapon. If they don’t, the hammer of new sanctions will come down quickly, and that’s why I am co-sponsoring new bipartisan sanction legislation,” said Senator Schumer. “The only way Iran will voluntarily stop their march for nuclear weapons is if they know that tougher and tougher sanctions will be enacted.”
Summary of the Nuclear Weapon Free Iran Act of 2015:
Sanctions will be implemented only after the June 30th negotiations deadline, but only if the negotiations fail to produce a deal.
The Kirk-Menendez legislation increases the current congressional oversight of the negotiations and requires the Administration to formally submit any new nuclear agreement text or extension to Congress within five days.
Congress is allotted 30 days to review any nuclear agreement before the President can waive, defer or suspend sanctions.
Subject to a report and certification, the President can only waive sanctions if it is in the vital national security interest of the United States and/or a waiver would make a long-term comprehensive solution with Iran more likely.
If there is no final agreement by July 6, 2015, Kirk-Menendez would re-impose sanctions that have been waived while the negotiations have been ongoing, which would begin in August and run through December.
New sanctions would close loopholes in existing petroleum sanctions, enhance sanctions on Iran’s oil trade and financial transactions, and impose further sanctions on Iran’s senior government officials, family members and other individuals for weapons of mass destruction proliferation, terrorism sponsorship and other illicit activities, and on Iran’s shipbuilding, automotive, construction, engineering and mining sectors.