Getting down to a few of the specifics, the legislation will:

•    Expand the scope of sanctions authorized under ISA by imposing sanctions on foreign companies  -- including insurance, financing and shipping companies -- that sell Iran goods, services, or know-how that assist it in developing its energy sector;
•    Ban U.S. banks from engaging in financial transactions with foreign banks doing business with the IRGC or facilitating Iran’s illicit nuclear program or its support for terrorism  
•    Impose significant financial penalties and travel restrictions on Iran’s human rights abusers.  
•    Establish three new sanctions, in addition to the menu of six sanctions that already exists under ISA, including: (1) a prohibition on access to foreign exchange in the U.S.; (2) a prohibition on access to the U.S. banking system; and (3) a prohibition on property transactions in the U.S. The Act would require the President to impose at least three of the possible now-nine sanctions on an entity in violation of ISA.  
•    Ban U.S. government procurement contracts for any foreign company that exports to Iran technology used to restrict the free flow of information or to disrupt, monitor, or otherwise restrict freedom of speech.
•    Require a certification from a company bidding on a U.S. government procurement contract that it  is not engaged in sanctionable conduct.
•    Provide a legal framework by which U.S. states, local governments, and certain other investors can divest their portfolios   of foreign companies involved in Iran’s energy sector.  Strengthen efforts to stop black-market diversion of sensitive technologies to Iran.  
•    Strengthen the U.S. trade embargo against Iran by codifying longstanding executive orders and limiting the goods exempted from the embargo.
•    Increase substantially the criminal penalties for sanctions violations by U.S. entities.

The problems with this bill have been well aired here on NoH, but a few welcome changes did appear during conference, including:

•    Non-binding language supporting the work of US NGOs engaged in humanitarian and people-to-people programs in Iran.
•    A binding provision explicitly permitting the export to Iran of a wide range of goods, including those goods related to humanitarian needs, internet and online communications, safe operation of commercial aircraft, and other goods whose export is in the national interest of the United States.
•    A provision imposing sanctions on human rights violators.
•    A provision imposing sanctions on people who help Iran censor communications and the internet.

Iran Watch, Sanctions (all tags)

Center Analysis

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