```

[Congressional Record Volume 158, Number 118 (Friday, August 3, 2012)]
[Extensions of Remarks]
[Page E1409]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

        IRAN THREAT REDUCTION AND SYRIA HUMAN RIGHTS ACT OF 2012

                                 ______
                                 

                               speech of

                         HON. CHRIS VAN HOLLEN

                              of maryland

                    in the house of representatives

                       Wednesday, August 1, 2012

  Mr. VAN HOLLEN. Mr. Speaker, I rise in support of the conference 
agreement for H.R. 1905, the Iran Threat Reduction and Syria Human 
Rights Act of 2012, a bill of which I am a cosponsor. In addition to 
imposing sanctions on anyone found to be guilty of committing or 
contributing to the repression or abuse of the human rights of the 
Syrian people, this measure also continues the congressional efforts to 
apply pressure to the government of Iran for its nuclear enrichment 
activities.
  Mr. Speaker, yesterday the president announced the application of new 
sanctions on the Iranian oil industry and on Chinese and Iraqi banks 
for helping Iran to circumvent the global sanctions regime. These 
sanctions are a part of an escalating series of penalties against Iran. 
In June, the U.S. imposed a round of sanctions targeting any foreign 
country that buys Iranian oil. Then, in early July, the EU, a major 
market for Iranian oil, put in place a complete embargo of oil imports 
from the country.
  Since the effort began, Iranian oil production has declined by a 
million barrels a day, its exports have fallen by about 50 percent and 
its currency has plunged more than 40 percent against the dollar. 
Today, the House meets to further tighten the sanctions on Iran's 
energy, shipping and insurance sectors. This package of sanctions will 
be the most comprehensive passed to date. Virtually all of Iran's 
energy, financial, and transportation sectors will be subject to U.S. 
sanctions and any company that does business in these sectors will run 
the risk of losing access to U.S. markets.
  The economic sanctions imposed on Iran have succeeded in bringing the 
Iranians to the negotiating table. It remains to be seen whether the 
Iranians are simply engaged in stall-tactics or are willing to end 
their effort to produce weapons-grade nuclear material.
  As President Obama has made clear, it is unacceptable for Iran to 
develop a nuclear weapon. The U.N. Security Council has passed numerous 
resolutions demanding that Iran comply with the Nuclear 
Nonproliferation Treaty and suspend its nuclear enrichment activities. 
The IAEA has repeatedly found Iran to be in violation of the U.N. 
resolutions.
  A nuclear-armed Iran would pose a grave threat to the State of 
Israel, a country the President of Iran has stated should ``be wiped 
off the map.'' A nuclear Iran could also trigger a nuclear-arms race in 
the Middle East that would further destabilize an already volatile 
region. It is in the national security interests of the United States 
to prevent Iran from obtaining nuclear weapons.
  By most accounts, the sanctions passed by Congress have ratcheted up 
pressure on the Iranian government. But Iran continues to increase its 
stockpile of enriched uranium. This bi-partisan measure is necessary to 
give the President additional tools to penalize the Iranian regime for 
its continual refusal to heed the objections of the international 
community.
  I encourage my colleagues to join me in support of this conference 
agreement.

                          ____________________
```