News

WASHINGTON — The House on Wednesday sent a message to Iran that pursuit of nuclear capability will not go unpunished, approving legislation that allows state and local governments to curtail investments in international corporations doing business in Iran's energy sector.

The legislation also protects from shareholder lawsuits those investment managers who divest funds from companies that are involved in Iran's energy sector or have provided equipment for the transport of oil or liquefied natural gas from Iran.

The bill passed the House 414-6 and now goes to the Senate.

The bill does not impose new sanctions, said its author, Financial Services Committee Chairman Barney Frank, D-Mass.

"What it does is to make it very clear that Americans who are deeply concerned about the prospect of Iranian nuclear power, and other aspects of Iranian governance, that they are able to act on those (concerns)," he said.