Biz Groups Urge Defeat Of Iran Gas Sanctions Bill

Law360, New York (January 27, 2010, 4:00 PM EST) -- A host of business groups is urging Congress to water down a proposal that would impose stricter gasoline sanctions on Iran, saying the legislation goes so far in punishing foreign companies doing business in Iran that it also would harm the U.S. economy.

The National Foreign Trade Council, the U.S. Chamber of Commerce and seven other industry groups sent a letter Tuesday to officials in President Barack Obama's administration asking them to pressure Congress to lighten up the most problematic provisions of the proposal.

The business...
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