Condemns the government of Iran's many failures to comply with its nuclear nonproliferation obligations, including its obligations under the Safeguards Agreement. Commends the efforts of the governments of France, Germany, and the United Kingdom to seek a credible suspension of Iran's enrichment- and reprocessing-related activities and to find a diplomatic means to address Iran's noncompliance with such obligations. Calls on U.N. Security Council members, in particular the Russian Federation and the People's Republic of China, to consider and take action in response to the report of Iran's noncompliance in fulfillment of the Security Council's mandate to respond to situations bearing on the maintenance of international peace and security. Declares that Iran, through its many breaches of the Safeguards Agreement, has forfeited the right to develop any aspect of a nuclear fuel cycle, especially with uranium conversion and enrichment and plutonium reprocessing technology, equipment, and facilities. Calls on all members of the international community to impose economic sanctions to deny Iran the ability to develop nuclear weapons. Urges the President to keep Congress fully and currently informed concerning Iran's violation of its international nuclear nonproliferation obligations.