The Committee passed the Iran Counter-Proliferation Act of 2007 by a 37-1 vote.
The legislation "closes loopholes in existing sanctions law, strengthens U.S. tools to cut off funds to Iran's nuclear program and prohibits U.S. nuclear cooperation with those aiding Iran's atomic efforts."
It requires foreign subsidiaries of U.S. companies to cease all business activities in Iran, ends all Iranian imports to the United States, restricts U.S. exports to Iran for food and medicine, and adds the selling of oil tankers to Iran to the list of sanctionable items under the Iran Sanctions Act.
The bill also prohibits nuclear cooperation with Russia without approval by the U.S. president certifying that Russia has ceased nuclear cooperation with Iran.
