Economics
U.S. Senators Seeking Tougher Economic Sanctions on Iran
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A group of U.S. lawmakers is proposing to intensify the economic pressure on Iran over its disputed nuclear program by drafting the harshest penalties to date on a nation whose income from oil exports has been cut in half by sanctions since 2011.
A draft Senate bill, a copy of which was obtained by Bloomberg News from a congressional office, would penalize foreign countries that do business with any Iranian entity controlled by the government. It also would bar Iran from using earnings from oil exports to purchase anything other than food and medicine.