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Boeing Co. and Exxon Mobil Corp. are lobbying to fend off tightened sanctions against Iran that business groups say may cost $25 billion in U.S. exports.

Legislation before Congress would expand a 1996 law penalizing foreign companies that invest in that country’s oil industry. U.S. firms, already barred from investing there, say their sales worldwide could be hurt by provisions that ban doing business with companies in Europe, Russia or China that trade with Iran.Europe, Russia or China that trade with Iran.

“We are up on Capitol Hill talking about the collateral damage,” William Reinsch, president of the National Foreign Trade Council, a Washington-based group that >>>