House, Senate negotiators back new Iran sanctions

WASHINGTON (AP) — Congress is pressing ahead with a new package of crippling sanctions on Iran, expanding on financial penalties and targeting Tehran's energy and shipping sectors in the hope that economic pressure undercuts its suspected nuclear weapons program.

House and Senate negotiators reached agreement late Monday on legislation that builds on the current penalties directed at financial institutions that do business with Iran's central bank.

The new bill would impose sanctions on anyone who mines uranium with Iran; sells, leases or provides oil tankers to Tehran; or provides insurance to the National Iranian Tanker Co., the state-run shipping line.

Lawmakers hope to vote on the bill this week before their monthlong August recess, with a House vote possible Wednesday. The measure has one crucial backer — the powerful American Israel Public Affairs Committee, the pro-Israel lobbying group — and extensive support from Republicans and Democrats.