Mo. Senate Endorses Iran Contracting Measure

8 years 4 months 14 hours ago Wednesday, March 07 2012 Mar 7, 2012 Wednesday, March 07, 2012 12:02:39 PM CST March 07, 2012 in News
By: Associated Press

JEFFERSON CITY - Missouri senators have endorsed legislation restricting public contracts for investors in Iran.

The legislation would bar companies or people who invest more than $1 million in Iran's energy sector from contracts with Missouri governmental bodies. It also would apply to banks providing at least $20 million in credit for another to invest in Iran. The energy sector would include petroleum, natural gas and nuclear power.

Sponsoring Sen. John Lamping, a Republican from St. Louis County, says the goal is to dissuade businesses from doing business in Iran. The U.S. and other nations want Iran to reduce activities that could be used to make a nuclear weapon. Lamping says other states have considered similar legislation.

The measure gained first-round approval Wednesday and needs another vote before moving to the House.

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