A resolution responding to the threat posed by Iran's nuclear program.

Calls for the United States to: (1) cut assistance to countries whose companies are investing in Iran's energy sector; (2) withdraw its support for Iran's accession to the World Trade Organization (WTO) until Iran meets weapons of mass destruction, human rights, terrorism, and regional stability standards; and (3) make the Government of Iran understand that if its nuclear activity continues it will be treated as a pariah state.

Expresses the sense of the Senate that: (1) supplies of refined gasoline to Iran should be cut off; and (2) there should be a worldwide ban on sales of weapons to Iran.

Calls for the United Nations Security Council to: (1) impose an intrusive International Atomic Energy Agency (IAEA)-led weapons of mass destruction inspection regime on Iran similar to that imposed on Iraq after the 1991 Persian Gulf war; and (2) reduce diplomatic exchanges with Iran, limit travel by some Iranian officials, and limit or ban sports or cultural exchanges with Iran.

Calls for the President to more faithfully implement the Iran and Libya Sanctions Act of 1996 (ILSA). Urges Congress to: (1) increase the requirements on the President to justify waiving ILSA-related sanctions; (2) repeal the sunset provision of ILSA; (3) set a 90-day time limit for the President to determine whether an investment constitutes a violation of ILSA; and (4) make exports to Iran of technology related to weapons of mass destruction sanctionable under ILSA.