Yesterday, the U.S. House of Representatives passed H.R. 6297, the Iran Sanctions Extension Act. U.S. Congressman Kevin Brady (TX-8), chairman of the House Ways and Means Committee, released the following statement on extending the Iran Sanctions Act of 1996 to December 31, 2026.
“This common-sense bill is our continued commitment to hold Iran accountable. As long as Iran’s interest remains adverse to America, Congress will exercise its sanctions authority.”
BACKGROUND: The Iran Sanctions Act of 1996 imposed sanctions on persons making investments directly and significantly contributing to the enhancement of the ability of Iran or Libya to develop its petroleum resources. H.R. 6297 extends the Iran Sanctions Act of 1996 to December 31, 2026.