BREAKING NEWS

US House passes Iran sanctions bill to slash oil exports

By REUTERS

AUGUST 1, 2013 01:46

WASHINGTON - The US House of Representatives easily passed a bill on Wednesday to tighten sanctions on Iran, a move that came days before President-elect Hassan Rouhani is sworn in.

The bill, which passed 400 to 20, would cut Iran's oil exports by another 1 million barrels per day over a year, in an attempt to cut funding to the Islamic Republic's disputed nuclear program. It is the first sanctions bill to put a number on exactly how much Iran's oil exports should be cut.

The measure still has to be passed in the Senate and signed by President Barack Obama before becoming law. The Senate Banking Committee is expected to introduce a similar bill in September.

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