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 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 it was revived by President Obama on Wednesday after he said that if Congress fails to act soon, military action could be taken against Iran.
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 . But it was revived by President Obama on Wednesday after he said that if Congress fails to act soon, military action could be taken against Iran.