1. Foreign Policy

    Congress Readies Iran Sanctions

    Members of the Senate and House of Representatives announced Monday that they are one step closer to imposing new sanctions on Iran. Legislation circulated by Sen. Chris Dodd (D-CT) and Rep. Howard Berman (D-CA) will target firms that supply Iran with refined gasoline or ship the Middle Eastern nation's crude-oil supply to other locations. The bill also aims to hold accountable financial firms that do business with Iran, and cuts them off from doing business with the U.S. banking sector. In a joint statement, Dodd and Berman said, "If applied forcefully by the president, this act will bring strong new pressure to bear on Tehran in order to combat its proliferation of weapons of mass destruction, support for international terrorism, and gross human-rights abuses." The White House, however, opposes the sanctions, and would rather sanction Iran in conjunction with the United Nations or other U.S. allies.

    Read it at The Wall Street Journal