New Iran sanctions from U.S. Congress

Negotiators from the U.S. House of Representatives and Senate have agreed on a compromise package of sanctions aimed at further reducing oil and other revenues used by Iran to further its nuclear program.   

Tehran has insisted its nuclear activities are for civilian purposes, but U.S. lawmakers want to prevent Iran from building a nuclear bomb.   

The bill must clear votes in both the House and Senate before it can be sent to President Barack Obama for his signature. Those votes have not yet been scheduled, although they could happen as early as this week. The White House has not commented on the new proposals.    Here is a summary of key provisions:   

* Pushes President Barack Obama to determine whether Iran's main oil and tanker companies have links to Iran's Islamic Revolutionary Guard Corps (IRGC), which would lead to sanctions.   

* Sanctions those providing insurance and reinsurance to the national oil and tanker companies.   

* Sanctions shipping companies carrying Iranian oil.   

* Punishes shipping companies that reflag ships or turn off tracking systems to try to evade sanctions.   

* Sanctions companies involved in energy-related joint ventures with Iran.   

* Punishes U.S. parent companies whose foreign subsidiaries do business with Iran.    * Expands the definition of sanctionable "financial transactions" to include futures, options, swaps, barter trades, and oil-for-gold deals.   

* Provides more scrutiny of services provided by the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, and other financial messaging service providers that help Iranian banks transfer funds electronically.   

* Requires companies traded on U.S. exchanges to disclose business done with Iran in public filings.   

* Sanctions those who buy Iranian sovereign debt and government bonds.   

* Includes some sanctions on Syrian officials responsible for human rights abuses, and on companies that sell Syria guns or telecommunications equipment used to prevent free speech.   

* Requires additional reports to Congress on criteria used to determine if oil buyers are cutting back enough on Iranian crude; prospects for additional sanctions on Iran's natural gas exports; vessel operators doing business in Iranian ports; foreign investment in Iran's energy sector; and foreign governments doing business with the IRGC.   

REUTERS