MMC
12-31-2011, 04:53 PM
HONOLULU (Reuters) - President Barack Obama signed a defense funding bill into law on Saturday that imposes sanctions on financial institutions dealing with Iran's central bank, while allowing for exemptions to avoid upsetting energy markets.
Under the law, the president can move to exempt institutions in a country that has significantly reduced its dealings with Iran and in situations where a waiver is in the U.S. national security interest or otherwise necessary for energy market stability. He would need to notify Congress and waivers would be temporary, but could be extended.
Sanctioned institutions would be frozen out of U.S. financial markets.
Obama signed the bill during his vacation in Hawaii, just hours after Tehran said it had delayed planned long-range missile tests in the Gulf and signaled it was ready for fresh talks on its disputed nuclear program.
Senior U.S. officials said Washington was consulting with its foreign partners to ensure the new sanctions can work without harming global energy markets. They stressed the U.S. strategy of both isolating and remaining open to engagement with Iran was unchanged.
"The executive branch must have the flexibility to act swiftly in conducting negotiations with foreign countries regarding the circumstances of detainee transfers," he said, also calling federal courts "legitimate, effective and powerful" means by which to prosecute some militants.
Obama also raised concerns about a requirement that he must notify Congress before sharing any classified U.S. ballistic defense missile information with Russia.
"Should any application of these provisions conflict with my constitutional authorities, I will treat the provisions as non-binding," he said, referring to a number of sections of the defense bill, which is hundreds of pages long.....snip~
http://news.yahoo.com/obama-signs-bill-imposing-iran-banking-sanctions-201512631.html <<<<< More here!
Obama says he worked with others to assure this would not afrfect energy markets. I doubt he worked with Russia or China on this issue. Also he says he anything that affects his foreign policy and executive powers that he will determine such an intrepretation. Especially with deployment of missiles over Russia. He knows damn well he has to report anything to Congress when it concerns Russia. Due to Cold War Negotiations.
Under the law, the president can move to exempt institutions in a country that has significantly reduced its dealings with Iran and in situations where a waiver is in the U.S. national security interest or otherwise necessary for energy market stability. He would need to notify Congress and waivers would be temporary, but could be extended.
Sanctioned institutions would be frozen out of U.S. financial markets.
Obama signed the bill during his vacation in Hawaii, just hours after Tehran said it had delayed planned long-range missile tests in the Gulf and signaled it was ready for fresh talks on its disputed nuclear program.
Senior U.S. officials said Washington was consulting with its foreign partners to ensure the new sanctions can work without harming global energy markets. They stressed the U.S. strategy of both isolating and remaining open to engagement with Iran was unchanged.
"The executive branch must have the flexibility to act swiftly in conducting negotiations with foreign countries regarding the circumstances of detainee transfers," he said, also calling federal courts "legitimate, effective and powerful" means by which to prosecute some militants.
Obama also raised concerns about a requirement that he must notify Congress before sharing any classified U.S. ballistic defense missile information with Russia.
"Should any application of these provisions conflict with my constitutional authorities, I will treat the provisions as non-binding," he said, referring to a number of sections of the defense bill, which is hundreds of pages long.....snip~
http://news.yahoo.com/obama-signs-bill-imposing-iran-banking-sanctions-201512631.html <<<<< More here!
Obama says he worked with others to assure this would not afrfect energy markets. I doubt he worked with Russia or China on this issue. Also he says he anything that affects his foreign policy and executive powers that he will determine such an intrepretation. Especially with deployment of missiles over Russia. He knows damn well he has to report anything to Congress when it concerns Russia. Due to Cold War Negotiations.