The Obama administration is pressing Congress to provide an exemption from Iran sanctions to companies based in “co-operating countries,” a move that would likely exempt Chinese and Russian concerns from penalties meant to discourage investment in Iran.
The Comprehensive Iran Sanctions, Accountability, and Divestment Act is currently in a House-Senate conference committee and is expected to reach President Obama’s desk by Memorial Day.
“It’s incredible the administration is asking for exemptions, under the table and winking and nodding, before the legislation is signed into law,” Rep. Ileana Ros Lehtinen, Florida Republican and a conference-committee member, said in an interview.
A White House official Wednesday confirmed that the the administration was pushing the conference on the legislation to adopt the exemption of “co-operating countries.”