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[Congressional Record Volume 158, Number 118 (Friday, August 3, 2012)]
[Extensions of Remarks]
[Page E1404]
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. HENRY A. WAXMAN

                             of california

                    in the house of representatives

                       Wednesday, August 1, 2012

  Mr. WAXMAN. Mr. Speaker, the Iranian nuclear threat is a daunting and 
dangerous challenge. With Iran stalling diplomatic talks, adding 
enrichment centrifuges, and continuing work at unmonitored enrichment 
sites, there is frustration and alarm that time may be running out. But 
time has not run out and if we are to avert a military confrontation 
with Iran over its nuclear weapons ambitions, we must make use of every 
opportunity to pressure Iran to change course. This bill achieves that 
goal with sanctions that are deeper and stronger than any we have ever 
seen.
  Without a doubt sanctions against Iran are having a powerful impact. 
In the last year alone, exports of Iranian oil have dropped by sixty 
percent. The value of Iran's currency has plummeted by more than one-
third. Full tankers are idling in Iranian harbors unable to sell crude 
in the world market. Although Iran has attempted to work around the 
sanctions by reflagging vessels and hiding transactions, the shell game 
isn't sustainable. Sanctions announced by President Obama in recent 
days and weeks and those authorized in the bill before us today will 
tighten the grip.
  Our message to Iran is loud and clear--there is no escaping 
accountability. The consequences of defying the international community 
and continuing an illegal nuclear program are severe and they will be 
gravely worse if the Iranian government continues on its current 
course.
  This bill is our third round of congressional sanctions legislation 
since the Obama Administration successfully galvanized U.N. Security 
Council support for multilateral sanctions against the Iranian nuclear 
program in June 2010. Together with sanctions enacted in July 2010 and 
December 2011, the sanctions in the bill before us today reinforce the 
message to countries, companies and financial institutions that now is 
not the time for business as usual with Iran.
  The bill gives the Administration an array of new tools to shore up 
international resolve. It has sharp enforcement mechanisms to help 
enlist other countries in the effort to starve the Iranian nuclear 
program of cash flows from Iranian Revolutionary Guard Corps, the 
National Iranian Oil Company, the National Iranian Tanker Company, and 
other Iranian banks, businesses and government entities being used to 
funnel money into nuclear activities.
  The bill also expands sanctions against Iranian and Syrian officials 
responsible for human rights abuses by using electronic monitoring and 
tracking of regime opposition and specifically targets the paramilitary 
organizations that have been most insidious in terrorizing democracy 
activists.
  But what this bill does not do is authorize war with Iran. In fact, 
the bill explicitly says so. I want to underscore that point, because 
the motivation of the sanctions is to pressure Iranian leaders to abide 
by the International Atomic Energy Agency's demands and negotiate in 
good faith and to avoid a military escalation.
  As President Obama has stated clearly, the United States does not 
have a policy of containment. All options are the on the table if Iran 
does not change course. By passing this legislation we will continue to 
leave no stone unturned in our determination to try and achieve a 
diplomatic resolution to this crisis.

                          ____________________
```