Two senators want to extend for 10 years a US law that directs the president to impose sanctions on companies that make significant investments in Iran's oil and gas sector.

As the US and P5+1 negotiating partners are trying to reach a comprehensive agreement with Iran by 30 June that would swap sanctions relief for nuclear concessions, senators Mark Kirk (R-Illinois) and Robert Menendez (D-New Jersey) have introduced a bill to extend the Iran Sanction Act until 31 December 2026.

First passed in 1996, the Iran Sanctions Act directs the imposition of sanctions on companies that invest more than $20mn/yr in Iran's energy sector. The statute has been extended a number of times and is now scheduled to expire at the end of 2016.

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