Obama administration urges softer sanctions on Teheran bank: Senator

WASHINGTON - The Obama administration is urging US lawmakers to soften proposed sanctions targeting Iran's central bank, Senator Mark Kirk said on Tuesday.

Kirk, a Republican, is the co-author along with Democratic Senator Robert Menendez of a proposal to penalize foreign financial institutions that do business with Iran's central bank, the main conduit for its oil revenues.

The Senate approved the proposal last week 100-0 despite lobbying against it by Obama administration officials, who argued that threatening US allies might not be the best way to get cooperation in action against Iran.