Banking Committee Approves Section Two of Murkowski Iran Certification and Reporting Bill

Legislation Will Provide Clarity about Effectiveness of Iran Sanctions

WASHINGTON, D.C. – U.S. Sen. Lisa Murkowski, R-Alaska, today applauded Sen. Robert Menendez, D-NJ, and the Senate Banking, Housing and Urban Affairs Committee for passing a portion of her legislation requiring a report to be regularly made to Congress describing the movements of both crude oil and refined petroleum products to and from Iran, as well as the entities that are financing these transactions, providing the necessary shipping and insurances, or helping Iran invest in their petroleum infrastructure.

“This information is not easily accessible or even available to policymakers and the general public right now,” Murkowski said. “But clearly, having that information will help us determine whether our sanctions are adequately targeted or even effective.”

Section two of Murkowski’s Iran Certification and Reporting Act of 2012 (S. 2058), which contained the reporting requirement, was offered as an amendment by fellow co-sponsor Sen. Menendez, in a Manager’s package that passed on the Iran Sanctions, Accountability and Human Rights Act of 2012, which was reported out of the Banking, Housing and Urban Affairs Committee this morning.

Murkowski, the ranking member of the Senate Energy and Natural Resources Committee, introduced the Iran Certification and Reporting Act (S. 2058) on Wednesday with 17 cosponsors including: Maria Cantwell, D-WA; Dean Heller, R-NV; Kirsten Gillibrand, D-NY; Rob Portman, R-OH; John Barrasso, R-WY; John Cornyn, R-TX; Jon Kyl, R-AZ; David Vitter, R-LA; James Risch, R-ID; John Hoeven, R-ND; Mary Landrieu, D-LA; Mark Begich, D-AK; Richard Lugar, R-IN; Michael Bennet, D-CO; Robert Menendez, D-NJ; Marco Rubio R-FL, and Mike Crapo, R-ID.