“We applaud the Administration’s success in reaching agreement with Russia and China on a draft UN Security Council sanctions resolution. As we’ve stated repeatedly, only multilateral economic sanctions have a legitimate chance to influence the Iranian regime. Unilateral sanctions shut out the international community rather than encourage cooperation,” said NFTC President and USA*Engage Co-Chair Bill Reinsch.
“We continue to believe that unilateral economic sanctions do not work and indeed often only harm U.S. economic interests. That said, we recognize that House and Senate conferees now engaged in completing Iran sanctions legislation are committed to passing additional U.S. unilateral sanctions. We urge them to target the legislation to identified bad actors and not penalize U.S. companies or U.S. subsidiaries of foreign companies with no direct ties to Iran’s energy sector. Attempting to repeal the global supply chain will not add to the multilateral effort and will only hurt the U.S. economy,” said Richard Sawaya, USA*Engage Director.
USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policy-makers, opinion-leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy world wide.
The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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