( CNN ) -- The U.S. Senate unanimously voted to tighten sanctions on Iran on Monday , three days after a dispute over whether to include the threat of American force stalled the legislation . The new sanctions would target Iran 's oil and banking industries , as well as other sectors . The measure passed the Senate on a voice vote Monday evening , two days before a new round of talks between Iran and leading U.N. members in Baghdad . `` Today the Senate has showed we can still act in a bipartisan way on important priorities , '' said Sen. Tim Johnson , D-South Dakota , the chairman of the Senate Banking Committee . Passage came after senators agreed to add language warning that military force would be an option available to the United States if Iran seeks to build a nuclear weapon . But the measure also states that nothing in the legislation authorizes military action . Missile shield in place , NATO chief says . The House of Representatives passed a similar bill in December , but demands for those competing messages stalled the bill in the Senate last week . Republicans blocked passage after complaints that the language was n't tough enough , leading Majority Leader Harry Reid , D-Nevada , to complain that he was being `` jerked around . '' Sen. Lindsey Graham , R-South Carolina , said the legislation now makes clear that `` all options '' could be considered , echoing previous statements by President Barack Obama . `` I hope sanctions will work , '' Graham said . `` But this is a clear statement by the United States Senate , backing up our president , that when it comes to Iran having a nuclear capability , there will be more than sanctions on the table -- and the Iranians need to know that . '' Meanwhile , Kentucky Republican Sen. Rand Paul insisted on language that explicitly noted that nothing in the bill `` shall be construed as a declaration of war or an authorization of the use of force '' against either Iran or Syria , an Iranian ally now fighting a popular uprising against its government . Paul , the son of two-time GOP presidential candidate Ron Paul , was pleased by the bill 's passage , spokeswoman Moira Bagley told CNN . Security Clearance : Iran propping up Syria 's cash reserves . And Reid said after the vote , `` Iranians need to know we mean business . '' Aides from both parties said the House and Senate bills will need to be reconciled after the Senate amendments . Iran has insisted that its production of enriched uranium is meant to fuel civilian nuclear power plants , and U.S. intelligence believes any previous weapons-related research was halted in 2003 . But the Islamic republic has refused international demands to halt its nuclear fuel program , and the U.N. nuclear watchdog agency said in November that it was up to Iran to demonstrate the peaceful nature of its atomic research . Iran says U.N. talks pave way for negotiations . Meanwhile , Iran 's economy has been crippled by existing sanctions imposed by the United Nations , the United States and the European Union . Eighty percent of Iran 's foreign revenues are derived from oil exports , and an embargo by the EU set to go into effect in July will put further pressure on its economy . CNN 's Ted Barrett contributed to this report .
NEW : `` Iranians need to know we mean business , '' Sen. Harry Reid says . The new sanctions would take aim at Iran 's oil and banking industries . A dispute over including a threat of U.S. force stalled the bill last week . Iran says its nuclear work is peaceful ; new talks are scheduled for Wednesday .