March 24, 2008

DODD APPLAUDS SUSPENSION OF EXPORT PRIVILEGES FOR U.K. COMPANY

WASHINGTON, D.C. – Senator Chris Dodd (D-CT), Chairman of the Senate Banking, Housing, and Urban Affairs Committee, today praised the U.S. Commerce Department’s decision to suspend export privileges to a British-based company that had knowingly diverted U.S. aircraft components to Iran. Last year, Dodd convened a Banking Committee hearing to examine U.S. policy toward Iran. At the hearing, Dodd urged the Commerce Department to be tougher in their enforcement of export controls to stop the flow of goods and sensitive technology to Iran. “I applaud the dedicated officials and the British authorities who worked with the U.S. government to identify this company and help stem the flow of sensitive technology to Iran. The United States cannot do this alone. We must work to achieve similar cooperation from other nations who still are not doing enough to prevent critical goods from being shipped to Iran. There is no doubt that the Iranian government is a patron of terrorism and a weapons proliferator. We must continue to do everything we can to cut off their supply of goods and sensitive technology.” The Senate Committee on Banking, Housing, and Urban Affairs oversees foreign sanctions legislation, including the Iran Sanctions Act, as well as controls on U.S. exports associated with "dual use" items— technology that can be used for both commercial and military purposes.