WASHINGTON (AP) — A bipartisan group of US senators is pushing for a new round of sanctions on Iran, determined to cripple the regime’s economy and thwart any nuclear ambitions.
The legislation unveiled Wednesday would essentially penalize any financial institution around the world that helps Iran in a non-local currency. It would block Tehran’s access to foreign exchange reserves and limit its ability to deal in foreign currencies, including euros.
The group says the Iranian government, including the Central Bank of Iran, has accounts worldwide with foreign exchange reserves. Iran often converts them into local currencies for imports and other financial dealings.