U.S. lawmakers urge White House to tighten pressure on Iran

TEHRAN,May 18(MNA) – Congressional leaders prodded the Obama administration on Wednesday to tighten the squeeze on Iran’s economy, saying that even last year’s dramatic sanctions against Iranian banks and oil companies weren’t enough to stop Iran’s nuclear advances, according to the Washington Post. At a Senate hearing on Iran, lawmakers called for new curbs on Tehran’s ability to sell oil or obtain gold and other hard currency to stabilize the Iranian rial. Some suggested that a show of force may be needed to persuade Iran to accept limits on its nuclear program. “While the sanctions are working, they aren’t enough, and they aren’t working fast enough,” Sen. Robert Menendez (D-N.J.), chairman of the Foreign Relations Committee, said during the questioning of two of the administration’s top advisers on Iran. Wendy Sherman, the State Department’s point person for nuclear negotiations with Iran, acknowledged that the administration’s diplomatic and economic initiatives have not achieved the desired result yet. “We are determined to prevent Iran from acquiring a nuclear weapon,” said Sherman, the department’s undersecretary for political affairs. “Our preference is to resolve this through diplomacy. However,… there should be no doubt that the United States will use all elements of American power to achieve that objective.” The United States and some Western countries claim that Iran may be seeking to develop the capability to produce nuclear weapons. Iran denies the allegation, saying its nuclear program is meant for peaceful purposes. Sherman and David S. Cohen, the Treasury Department’s undersecretary for terrorism and financial intelligence, said new measures in the pipeline would increase the strain on Iran’s economy in coming months. Those include regulations that will hamper Iran’s ability to collect hard currency or precious metals from foreign countries as payment for oil. “We will continue to target Iran’s primary sources of export revenue,” he told the Senate panel. Some senators at the hearing called on the administration to put more pressure on Iran’s remaining oil customers — chiefly China — to reduce or eliminate imports of Iranian crude. Sherman said that China had substantially reduced its consumption of Iranian oil and that talks were underway to lower imports further. But she cautioned against policies that could undercut efforts in curbing Iran’s nuclear program. “As we move forward, it will be critical that we continue to move together and not take steps that undo the progress made so far,” Sherman said.