Declares that: (1) preventing the government of Iran from acquiring a nuclear weapons capability through economic, political, and diplomatic means is vital to U.S. national security; and (2) nothing in this resolution authorizes the use of force against Iran.
Urges the President to use his authority to impose sanctions on: (1) Iranian banks engaged in proliferation activities or the support of terrorist groups; (2) international banks which conduct financial transactions with sanctioned Iranian banks; (3) energy companies with large investments in the Iranian petroleum or natural gas sector; and (4) all companies which do business with Iran's Islamic Revolutionary Guard Corps.
Demands that the President lead an international effort to increase pressure on Iran to suspend its nuclear enrichment activities, including by banning the importation of refined petroleum products to Iran.