CHAIRMAN MENENDEZ: WE CANNOT ALLOW IRAN TO THREATEN US INTO A BAD DEAL OR AN INTERIM AGREEMENT THAT ALLOWS IT TO CONTINUE BUILDING ITS NUCLEAR CAPACITY

…Using a sophisticated web of shipping, delivery, and tanker flagging techniques, private energy analysts – here’s where we see their abilities in this space here to make these transfers that ultimate go to China – through tanker flagging techniques, private energy analysts estimate China bought an average between 350,000 and 650,000 barrels per day last year and according to United Against Nuclear Iran this amounted to roughly ten billion dollars going to the regime, in violation of existing sanctions. We cannot turn a blind eye to these violations. The Biden administration must rigorously enforce our sanctions, including targeting Chinese entities in a way that will impose a serious cost. We must use our sanctions to crush the illicit, underground economy of Iranian oil shipments throughout the world. The international community must also leverage a full range of tools.