CQ TODAY MIDDAY UPDATE
July 30, 2007 – 1:52 p.m.
House Considers Iran, Sudan Sanctions Bills

The House took up legislation Monday aimed at intensifying financial pressure on Sudan and Iran to end behavior seen as violating international standards.

Two bills dealing with Iran and a third aimed at Sudan were considered under suspension of the rules, which limits debate, bars amendments and requires a two-thirds majority vote for passage. Votes were put off until later Monday or Tuesday.

The United States opposes Iran’s uranium enrichment program, which it says is aimed at developing nuclear weapons, and has led the push for U.N. sanctions against Tehran. Iran denies the charge.

The first Iran bill (HR 2347) would promote divestment from firms with more than $20 million invested in Iran’s energy industry. The bill would shield investment and pension managers from lawsuits contending that divestiture would lower a fund’s returns.

The second (HR 957) would expand the definition of those subject to sanctions for making investments that increase Iran’s ability to develop its petroleum resources. The new definition adds financial institutions, insurers, underwriters, guarantors, and any other business organizations, including any foreign subsidiaries, to the list of entities already barred from investing in Iran.

Lawmakers also are debating a bill (HR 180) to bar federal contracts with companies doing business with the Sudanese government. That measure would authorize states to do the same and to divest assets from the country.

The legislation is designed to pressure Sudan to halt its military campaign against rebels in its Darfur region, which the United States and other nations have characterized as genocide.

Source: CQ Today Midday Update
Political Clippings compiled from BNN Frontrunner and CQ Politics.com.
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