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Aid package with Iran sanctions wins Senate approval

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Apr 23, 2024
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Illustration: Aïda Amer/Axios

The Senate this evening passed a $95 billion foreign aid package that includes fresh sanctions on Iranian oil.

Why it matters: The legislation shows bipartisan support for punishing Iran's energy industry for the country's strike on Israel, even though the impact on oil markets has been limited so far.

Driving the news: The supplemental cleared the Senate in a 79-18 vote. It now heads to President Biden.

  • It includes language to sanction ship and port operators that process Iranian crude, though Biden could waive it.
  • It also seeks to punish Chinese financial institutions that purchase petroleum from Iran.

Flashback: Republicans had been hoping to address the Biden administration's LNG export permitting pause in the foreign aid package.

  • But they ultimately dropped that issue, since they needed support from Democrats to get it though the House.
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