It would extend existing sanctions on firms that invest in Iran's energy sector to include related joint ventures anywhere in the world where Iran's government is a substantial partner or investor.

It calls for imposing sanctions on firms that invest in projects involving Iranian officials, companies, or go-betweens in the mining, production, or transportation of uranium anywhere in the world.

Investors that agree to withdraw from such projects within six months from the date the bill becomes a law would be exempt.

 The measure also would enable President Barack Obama to impose new sanctions on senior executives of firms facing sanctions over energy-related dealings with Iran, as well as major shareholders, including travel bans or asset freezes.

It would target shippers, insurers and reinsurers that knowingly help Iran obtain materials that could be used to develop weapons of mass destruction, and increases US firms' liability for the actions of their foreign subsidiaries if they violate US sanctions law regarding Iran.

The bill would also require all firms with stock traded on US exchanges to disclose whether they or their affiliates have engaged in activities that could fall afoul of US sanctions targeting Tehran, including energy investments, or the sale of communications monitoring or surveillance technology.

And it aims to deny US visas to Iranian students who aim to come study energy-related fields in US institutions if the US State Department finds they plan to return to work in Iran's energy sector or on Tehran's nuclear program.

AFP