Congress will be looking at new Iran sanctions legislation in the coming months, with the House Foreign Affairs Committee poised to mark up a bipartisan sanctions bill sponsored by Royce, above, and Engel on May 22.
“Chairman Menendez is looking forward to Wednesday’s hearing, is reviewing the Kirk-Manchin bill, but is also considering new legislative measures that will dramatically reduce Iranian revenue, including compelling further reductions in purchases of petroleum from Iran, as well as related products,” said committee spokesman Adam Sharon.
According to a source off the Hill who is monitoring sanctions legislation, “it’s better for him to let these bills get worked on by various senators” until a “decision gets made to bring it to the Senate Foreign Relations Committee.” Then, the source said, it is likely to “get rolled into a Menendez bill that he will then push through.”
The Senate Banking Committee has also traditionally played a role in shepherding sanctions legislation, given the restrictions the laws place on financial transactions.
Those jurisdictional issues are expected to be sorted out in the coming weeks, as both chambers make a push to hold votes this summer.