Senate Democrats are circulating a letter asking President Bush to target Iran’s central bank for sanctions. The letter comes on the heels of a recent report in The Wall Street Journal that Bank Markazi was providing cover for commercial banks already targeted for sanctions for dealing with Iran’s energy sector and with those involved in its suspected nuclear weapons program.
The Journal quoted intelligence officials in three countries. Targeting Bank Markazi with U.S. sanctions could have a crippling effect, making it virtually impossible for Iran to deal with any entity that has dealings with the United States. At least 26 Democrats have signed on to the campaign spearheaded by Sen. Charles Schumer (D-N.Y.). Among them is Majority Leader Sen. Harry Reid (D-Nev.). The American Israel Public Affairs Committee strongly backs the letter.
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