The Senate Foreign Relations Committee endorsed legislation Tuesday designed to eliminate opportunities for Iran to profit off its oil trade revenue.
While a markup of S. 1829, the “Stop Harboring Iranian Petroleum (SHIP) Act,” was scheduled prior to Iran’s attack on Israel over the weekend, developments in the Middle East could propel its prospects for consideration by the full Senate.
The House has already passed companion legislation, H.R. 3774, in a 342-69 vote, with lawmakers motivated by the Oct. 7 rampage in Israel by the Iran-backed Palestinian militant group Hamas.
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“For months, the U.S. Senate has sat on the ‘SHIP Act’ and failed to pass it,” said the House’s lead co-sponsors, Reps. Mike Lawler (R-N.Y.) and Jared Moskowitz (D-Fla.).
