Expressing the sense of Congress regarding the threat posed to international peace, stability in the Middle East, and the vital national security interests of the United States by Iran's pursuit of nuclear weapons and regional hegemony, and for other purposes.

Declares that preventing Iran from acquiring a nuclear weapons capability through economic, political, and diplomatic means is vital to U.S. national security.

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 proscribed 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 initiate an international effort to increase economic, political, and diplomatic pressure on Iran to suspend its nuclear enrichment activities.

Urges the President to lead a regional diplomatic effort to support the legitimate governments in the region against Iranian destabilization efforts.