[Congressional Record Volume 162, Number 83 (Wednesday, May 25, 2016)]
[Senate]
[Page S3174]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. KAINE (for himself and Mr. Murphy):
  S. 2988. A bill to extend the sunset of the Iran Sanctions Act of 
1996 in order to effectuate the Joint Comprehensive Plan of Action in 
guaranteeing that all nuclear material in Iran remains in peaceful 
activities; to the Committee on Banking, Housing, and Urban Affairs.
  Mr. KAINE. Mr. President, I am pleased to introduce with my colleague 
Senator Murphy, a bill that extends the sunset of the Iran Sanctions 
Act, ISA, of 1996 until the President certifies to Congress that the 
Director General of the International Atomic Energy Agency has reached 
a broader conclusion that all nuclear material in Iran remains in 
peaceful activities.
  Currently, ISA expires on December 31st, 2016. Tying ISA's extension 
to Iran's compliance with the Joint Comprehensive Plan of Action, 
JCPOA, will provide the administration additional leverage to ensure 
that a ``snap back'' of sanctions would have significant effect on 
Iran's economy. Since its enactment in 1996, ISA has been a pivotal 
component of U.S. sanctions against Iran's energy sector and other 
industries and remains a critical foundation of our overall sanctions 
architecture.
  Administration officials have indicated that extending ISA, with its 
current waiver authorities, would not violate the JCPOA, as it imposes 
no new sanctions. Additionally, ISA is about more than Iran's nuclear 
program, but also its support for international terrorism, which 
endangers the national security and foreign policy interests of the 
United States and those countries with which the United States shares 
common strategic and foreign policy objectives. ISA addresses this 
issue by denying Iran money to finance international terrorism.
  By specifying in the bill that the extension of ISA ``effectuates the 
JCPOA,'' the intent is to support Congressional actions in line with 
the deal negotiated by the P5+1 and Iran, particularly following 
Congress's comprehensive review of the deal and decision to move 
forward under the Iran Nuclear Review Agreement Act of 2015.
  I am proud to introduce this bill with Senator Murphy to make sure 
that ISA is in place during the JCPOA to signal to the commitment of 
Congress to vigorously enforce Iran's compliance and to make clear that 
should Iran break the terms of the agreement, there will be clear 
consequences, including the re-imposition of sanctions.
                                 ______