IPS – U.S. Congress Moves Toward Full Trade Embargo on Iran | Inter Press Service
▻http://www.ipsnews.net/2013/05/u-s-congress-moves-toward-full-trade-embargo-on-iran
In perhaps its most controversial section, the bill also eliminates President Obama’s ability to waive most sanctions for national-interest or national-security reasons.
Such waiver authority, which has been routinely included in existing sanctions legislation, has been used by Obama to ensure that countries that have historically enjoyed important trade and financial relations with Tehran continue cooperating with Western-led international efforts to pressure Iran to curb its nuclear programme.
The president’s waiver authority is also considered critical to prospects for a negotiated agreement between Iran and the P5+1 (U.S., Britain, France, China, Russia plus Germany) by which such curbs would be accepted by Tehran in return for easing sanctions.
Both moves come as the Senate Republicans unveiled yet another bill even more far-reaching than that approved by the House Foreign Affairs Committee by blacklisting companies that do any trade with Iran and deprive the president of all waiver authority. Under the draft legislation, which so far lacks any Democratic co-sponsors, sanctions could be eased or lifted only by an act of Congress.
Approval of both the Senate resolution and the House bill were hailed by American Israel Public Affairs Committee (AIPAC), the premier group of the Israel lobby here.