Prepared Testimony by Acting Under Secretary of Commerce for Industry and Security Mark Foulon Before the Senate Banking Committee Hearing: Minimizing Potential Threats from Iran: Assessing the Effectiveness of Current U.S. Sanctions on Iran

March 21, 2007

The United States has maintained sanctions against Iran since 1979, with a reinforcing trade embargo starting in May 1995. Iran has been designated as a state sponsor of terrorism since 1984, and because of Iran’s continued active support for terrorism and concerns that it is pursuing weapons of mass destruction, U.S. sanctions were gradually increased until a comprehensive embargo was put in place. Consistent with these authorities, the Departments of Commerce and Treasury prohibit virtually all exports of U.S.-origin goods to Iran.

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