President Obama signs the Iran Sanctions Act, saying that the Iranian government has failed to meet its obligations under Nuclear Non-Proliferation Treaty and reiterating that the United States stands with the Iranian people as they pursue universal rights.
Key quote from President Obama:
Consistent with the Security Council mandate, this legislation strengthens existing sanctions, authorizes new ones and supports our multilateral diplomatic strategy to address Iran’s nuclear program. It makes it harder for the Iranian government to purchase refined petroleum and the goods, services and materials to modernize Iran’s oil and natural gas sector. It makes it harder for the Revolutionary Guards and banks that support Iran’s nuclear programs and terrorism to engage in international finance.
It says to companies seeking procurement contracts with the United States government -— if you want to do business with us, you first have to certify that you’re not doing prohibited business with Iran.
In short, with these sanctions -— along with others —- we are striking at the heart of the Iranian government’s ability to fund and develop its nuclear program. We’re showing the Iranian government that its actions have consequences. And if it persists, the pressure will continue to mount, and its isolation will continue to deepen. There should be no doubt —- the United States and the international community are determined to prevent Iran from acquiring nuclear weapons.