Dallas, September 24 (RHC)-- U.S. Republican presidential hopeful Ted Cruz, who is struggling to raise money for his election campaign, has signed on to a 10-year extension of the Iran Sanctions Act, after Republicans failed to block the nuclear agreement with Iran last week.

The Texas Republican on Tuesday became a co-sponsor to the legislation, which was launched by Senators Mark Kirk and Bob Menendez, The Hill reported on Wednesday.

Senator Menendez, Democrat of New Jersey, and Senator Kirk, Republican of Illinois, two key architects of Iran sanctions, want to extend the Iranian Sanctions Act (ISA) of 1996, which is set to expire at the end of 2016, through 2026.

A spokesman for Cruz said the senator's decision to back the bill is "consistent" with his previous sanctions legislation he brought against Iran. "The ISA, which maintains a large portion of energy sanctions, is set to expire at the end of 2016. It is imperative this act be re-authorized in order to retain the option to re-impose sanctions if the Administration lifts them," the spokesman said.

Senator Cruz has recently emerged as a strong supporter of Israel and an outspoken opponent of the Iran nuclear accord, reached between Iran and the P5+1 group of countries -- the U.S., Britain, France, Russia, China, and Germany -- in the Austrian capital, Vienna, in July.

Under the agreement, Iran has been recognized by the United Nations as a nuclear power and will continue its uranium enrichment program, but some restrictions will be placed on Iran's nuclear program in exchange for the removal of sanctions.

The illegal sanctions on Iran have been imposed based on the unfounded accusation that Tehran is pursuing non-civilian objectives in its nuclear energy program.