Congress OK's New Penalties against Iran

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The U.S. Congress approved tough new sanctions against Iran on Thursday, making it clear that any nuclear ambitions the Islamic Republic may be harboring could come at a steep price.
The Senate and House overwhelmingly agreed to penalties targeting Iran's Revolutionary Guard and its oil and gas imports. The Senate vote was 99-0. The House vote was 408-8.

Sen. John McCain, R-Ariz., called the legislation "the most powerful sanctions ever imposed by the Congress on the government of Iran."

The penalties come in response to Tehran's refusal to give up its nuclear weapons program.

"Because of this legislation, we will be posing a choice to companies around the world. Do you want to do business with Iran, or do you want to do business with the United States?" McCain said.

The United Nations approved similar sanctions against Iran two weeks ago. President Obama is expected to sign the sanctions into law on Friday.

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