US Senate panel advances Iran sanctions bill

The US Senate Banking Committee approved a controversial measure today that would ratchet up sanctions on Iran, a legislative weapon Congress could wield after March if international nuclear talks hit an impasse.
Senators voted 18 to 4 to advance the so-called Kirk-Menendez bill, which is steadfastly opposed by the White House.
"It is clear that further action is necessary to compel Iran to reach an acceptable agreement, which is why I strongly support this critical bill," committee chairman Senator Richard Shelby said after the vote.
President Barack Obama's administration is hostile to any congressional action that might scupper the ongoing landmark negotiations between international powers -- the United States, Russia, China, Britain, France and Germany -- and Iran.

Negotiators are eyeing the end of March for a political agreement, and June 30 as the deadline for a final pact which Washington hopes will prevent Iran from developing a nuclear weapon.
Some US lawmakers insist on keeping Iranian leaders' feet to the fire by pressing ahead with a deferred sanctions bill before June 30, which would trigger a gradual escalation of economic sanctions beginning in July should talks collapse or if Tehran violates its obligations.

But in a victory for Obama, senators on Tuesday agreed to delay a full Senate vote until at least March 24 to allow international negotiators to reach a political framework agreement without congressional pressure.

In order to be ready to launch such a debate on the Senate floor after that date, the Banking Committee finalized the bill's text Thursday, a procedural requirement that served to revive the threat of new sanctions.
Currently, 35 of the Senate's 100 members officially back the bill, a figure that is expected to increase in coming months.
On Tuesday, ambassadors from France, Britain, Germany and the European Union met in Washington with Senate Democrats urging them to ease the pressure.
"Let's give time to the nego(tiations)," French ambassador Gerard Araud posted on Twitter, recalling that while the March 24 date was a "goal," the true deadline for an agreement remained June 30.