US senators propose new penalties to target Iran

Two top US senators have offered a bill to impose sweeping new penalties on Iran and thwart its alleged nuclear ambitions.

Senate Banking Committee chairman Tim Johnson, a Democrat, and Alabama senator Richard Shelby, the panel's top Republican, said they had agreed on the measure that would target Iran's Revolutionary Guard Corps, require companies that trade on the US Stock Exchange to disclose any Iran-related business to the Securities and Exchange Commission, and expand penalties for energy and uranium mining joint ventures with Tehran.