"With today's action, we underscore our serious commitment to preventing Iran from obtaining nuclear weapons capability.
"While we have clearly placed all options on the table in this standoff with Iran, our goal is not to pick a fight with Iran, but to politically isolate Iran and deprive Iran of the resources and technology it needs to achieve its goal. Today, we act in the sincere hope of preventing a conflict, not creating one."
"When I introduced the Iran, North Korea, Syria Sanctions Consolidation Act, my focus was improving CISADA and addressing Iran's work-arounds to mitigate the impact of those sanctions. Today, after more than a year of intensive assessment, analysis, and re-assessment of our sanctions, as well as Iran's responses, I am pleased that we have emerged with a strong bi-partisan bill that goes far beyond improving CISADA.
"This bill also presents an entirely new set of sanctions, including sanctions on those who own, control and operate vessels that breach our sanctions regime or illicitly ship or obscure the fact that they're actually hauling Iranian crude oil. These sanctions will substantially impede the ability of Iran to find willing partners in the shipping industry and will ensure that the sanctions we've imposed on crude oil sales by Iran and refined petroleum sales to Iran have full effect.
"Combined with provisions in the bill that will lead to the designation of the National Iranian Oil and Tanker Companies as Revolutionary Guard entities, along with the prohibition on insurance and re-insurance for NIOC and NITC, these sanctions will -- again -- tighten the economic noose on the Iranian regime.
"We also have new sanctions on energy joint ventures with Iran, and on human rights violators, including those who seek to deprive the Iranian people through internet censorship and satellite jamming, as well as sanctions on Financial Messaging Service companies or their proxies that provide services to sanctioned Iranian financial institutions.
"These tougher sanctions build on those I authored last December with Senator Kirk restricting financial institutions that conduct business with the Central Bank of Iran. Those sanctions -- combined with similar EU sanctions -- led to a 50 percent decline in value of the rial and reduced Iran's oil exports by 60 percent -- approximately $40 billion a year.
"Today, we go one step further. Today we halt Iranian repatriation of oil revenue by requiring Iran to spend its petroleum revenue on goods and services for the Iranian people in the countries where it sells its oil, rather than bringing that money home to divert to nuclear weapons proliferation activities.
"Lastly, I am proud that in this package we reached an agreement to allow victims of the 1983 Marine Corps barracks bombing in Lebanon that killed 241 American servicemen and the 1996 Khobar Tower bombing in Saudi Arabia that killed 19 American servicemen, to receive what is due them under judgments against Iran by permitting attachment of Iranian assets located in the United States.
"This action - the product of an amendment I offered in the Senate Banking Committee last February, makes clear that the United States will always hold terrorist regimes accountable for their heinous acts against American citizens.
"Today we are maintaining our commitment to escalate - once again -- the cost to Iran of pursuing and maintaining its nuclear weapons program. The decision about how far we will go - how much more we will do -- and what impact this bill has is up to the leaders in Tehran.
"While we have clearly placed all options on the table in this standoff with Iran, our goal is not to pick a fight with Iran, but to politically isolate Iran and deprive Iran of the resources and technology it needs to achieve its goal. Today, we act in the sincere hope of preventing a conflict, not creating one."
