State and Treasury Department representatives testified on U.S. policy toward Iran. Much of the hearing focused on the Menendez-Kirk Amendment, which bans foreign financial institutions that work with the Central Bank of Iran from working with the U.S. financial market. The Obama administration does not support the amendment, arguing that the amendment will, in effect cause, more harm than good, jeopardizing U.S. partnerships with the international community and the current multilateral coalition against Iran. Undersecretary Wendy Sherman said that the unintended consequence of the amendment could be to raise oil prices and bring in more oil revenue into Iran, furthering the funding of Iran’s nuclear weapon aspirations.