Bush Signs Iran Freedom Support Act, Giving Himself Flexibility on Sanctions

Yesterday, President Bush signed the Iran Freedom Support Act after the Senate gave it final approval earlier this week. The new law renews and expands critical U.S. sanctions on companies or foreign nations that help Iran make nuclear weapons. Bush said the law extends current sanctions against Iran and gives him the flexibility to impose new sanctions against those aiding Iran's development of nuclear weapons.

The revised IFSA strengthens U.S. authority to sanction those helping Iran's nuclear pursuit, requiring the government to impose sanctions on those providing technical and material support to Iran's weapons program while providing new tools to the Treasury Department to target banks being used to finance Iran's nuclear program. It then urges the administration to launch investigations into current investments in Iran's energy sector ensure they do not violate allowed limits.