mr. szubin: --rep. sires: the problem is, things look out and we do not know what is going on with the administration. mr. blinken: don't always believe what you read. rep. sires: i don't believe what i listen to when people come in front of me, either. can you talk about the sanctions? mr. blinken: absolutely. i will also invite my colleague to do the same. with guard to you and sanctions -- to un sanctions, we would preserve sanctions regarding iran's behavior. other sanctions would have to it listed in a way that shows iranian compliance. they too, in some fashion, would have to be sequenced pending on iran's fulfilling obligations. all of that, including the sequencing, is under negotiation. adam, do you want to add to that? mr. szubin: you are right to focus on the ability to restore sanctions in the event of a breach. that is at the forefront of our mind. is it reversible? it is a trickier question when you talk about security council resolutions. we are not the only member of that counsel. we are

mr. szubin. mr. szubin: good morning. it is a pleasure to be here today and thank you for the invitation. this is my first appearance before a congressional committee as acting as under secretary. in my time at treasury including nine years leading the foreign -- office of access control, i deported the majority of my working hours to building honing, and implementing sanctions on iran. both executive sanctions and strong congressional i partisan sanctions that you all have enacted. i am particularly appreciated of having the opportunity to testify on this vital issue. the global architecture of our sanctions on iran is unprecedented. both in terms of its strength and the international foundation that underpin it. working together with our partners around the world and with congress, we have assembled a coalition that has fundamentally altered iran's economic posture. as a result, we today have a chance of resolving one of the world's most vexing and persistent security threats. at this critical juncture in the talks, it

mr. szubin has talked about some of the repercussions of that. in april 2014 secretary of state of john kerry said the obama administered would consult with congress to sanctions relief campaign in the final agreement. he said while of course we would be obligated under the law. what we do have to pass muster with congress. we all understand that yet the secretaries test were in the senate, deputy secretary blinken said and under secretary cohen indicated the obama emissions would not submit to potential agreement to congress for a vote. instead the administration will sign a political agreement. was difference between what secretary kerry state in 2014 and what's been said by the administration of? >> i don't think there is a difference. the second is right. first of all in our judgment at least we've consulted extensively for the duration of these negotiate, more than 200 hearings meetings, calls briefings. if there is an agreement obviously we will go through that in great detail in congress in open session and close sessions come in meetings

mr. szubin. >> that's a concern we have been keenly focused on. the truth is the size of the hole that iran is in, across almost any indicator you look at, is far deeper than the relief on the table. even the substantial relief should iran make good on all of the commitments that are being set out by the negotiators we're talking about a hole that could be described in onesons the 200 bill hole, which are the losses we assess they've suffered sense 2012 due do sanctions. in just the energy infrastructure as i mentioned during my opening statement their men stir came out and said they need 170 bill just to rogain their footing in the secretarior alone. the average iranian has seen steady decreases in their standard of living. decreases in their purchasing power. even signs rouhani came into office and the jpoa went into effect. it's going about a tremendous effort for iran to right itself and that is not going to happen overnight. finally, just want to reiterate what department at the secretary li

mr. szubin talked about that. let me move on. in april 2014, john kerry said the obama administration said they would consult with congress about the final agreement and he says, we would be obligated under the law and what we do will have to pass muster with congress. we will understand that. yet, secretary -- deputy secretary lincoln and undersecretary: indicated that -- and undersecretary colin indicated that the obama administration would not submit a potential agreement to congress for a vote. so what is the difference between what secretary kerry said in 2014 and what is being said now? mr. blinken: i don't think there is a difference. the secretary is exactly right. in our judgment, we consulted extensively throughout the duration at more than 200 hearings, meetings, calls and everything. if there is an agreement, we will go to that in great detail with congress. as we have been clear all along, the agreement at some point will require the lifting of sanctions and only congress can decide whether to do that. so congress wi

mr. szubin. >> thank you. it is a pleasure to be here today and thank you for the invitation. this is my first appearance as you noted behalf congressional community in my new role as acting undersecretary at the treasury department. in my time at treasury, including nine years leading the office of foreign sass control i worked on building, hope canning and implements sanks on iran. both executive sanks and the strong congressional bipartisan sanctions that you all have enacted. so i'm particularly appreciative of being able to testify here today on this vital issue. the global architecture of our sanctions on iran is unprecedented. both in terms of its strength and the international foundations that underpin it. working together with our partners around around the world and with congress we have assembled a coalition that has fundamentally altered iran's economic posture. as a result we today have a chance of resolving one of the world's most vexing and persistent security threats. at this critical juncture in the talks it is important to note that iran remains under massive

mr. adam szubin is the acting undersecretary for the office of terrorism for the department of treasury. he previously served as the director of treasury's office for foreign assets control. we welcome him back. without objection, the witnesses statement will be made a part of the record. we'll have five calendar days to submit statements to you a question. or any extraneous materials to you for the record. mr. secretary, if you would begin. mr. blinken: i want to thank you. to give us this opportunity to discuss a hot -- a comprehensive solution. as you mentioned, secretary of state karen -- secretary of state ckerry are in switzerland. the goal of these negotiations are to verify and ensure that iran's negotiations are for peace. mirror to uranium pathways -- there are two uranium pathways. a plutonium pathway. and a potential covert pathway. any comprehensive arrangement must include constraints on the nuclear program. transparency measures that maximize the community's attempt to break out overtly or covertly. we are working to ensure iran would take at least one year to produce