June 29, 2011 | House Committee on Oversight and Government Reform

The Impact of U.S. and European Sanctions on Iran

Mark Dubowitz, Executive Director of the Foundation for Defense of Democracies (FDD) and Director of its Iran Energy Project, testified today before the House Committee on Oversight and Government Reform on the impact of new U.S. and European sanctions on Iran.

Dubowitz praised President Obama and Congress for passing the Comprehensive Iran Sanctions Accountability and Divestment Act, which he said should cause Iranian leaders to think seriously about abandoning their unlawful nuclear activities. Dubowitz also recommended that Washington vigorously enforce Iran sanctions, imposing heavy penalties on violators and implementing measures to:

1) Penalize companies that operate in the U.S. and do prohibited business with Iran;
2) Deny lucrative U.S. government contracts to companies that do business with Iran;
3) Isolate more Iranian government entities from the international financial system;
4) Establish a bipartisan Sanctions Enforcement Commission in Congress; and
5) Crack down on transshipment points where Iran acquires sanctioned technologies.

Download his written testimony below.