Senate panel backs Iran sanctions

The Senate Banking Committee approved legislation to impose additional sanctions on Iran if there isn't a deal curtailing its nuclear program by the end of June.

While the 18-4 vote on Thursday was bipartisan, Democrats backing the measure have said they will block action on the Senate floor before March 24, the announced deadline for world powers and Iran to agree on a political framework intended to thwart any efforts by the Islamic Republic to make nuclear weapons.

President Obama has said he would veto any new sanctions legislation that passes Congress while negotiations are underway, saying it could derail the diplomatic process and raise the risk of a military confrontation with Iran.

Bloomberg news