A bipartisan bill has been introduced in US congress targeting companies and entities linked to Iran’s Islamic Revolution Guards Corps (IRGC), Western media have reported.
The 27-page bill has been reportedly sponsored by US Republican congressman and House Foreign Affairs Committee Chairman Ed Royce and Democratic congressman Eliot Engel.
The bill entails new set of sanctions on Iran and aims to block the Islamic Republic’s entry to the World Trade Organization. It also sanctions entities in which the IRGC has an ownership stake of less than 50 per cent.
This is expected to raise the stakes for those dealing with IRGC according to the text of the bill.
Support for Syria’s Bashar Assad’s regime and what the bill describes as “facilitating terrorism” are among the reasons for the writers to propose the new sanctions.
Mr. Royce says his suggested set of measures against Iran’s powerful IRGC goes after “companies that have yet to be sanctioned” for working with IRGC.
Meanwhile, Mr. Engel has reiterated that should bill be passed, it will “marginalize” the Islamic Republic hardliners.
US has tried to target the Iranian regime without violating the nuclear deal which President Donald Trump has repeatedly criticized. Mr. Trump has dubbed the agreement as "the worst deal".