Earlier this year, the Biden Administration waived sanctions to allow the transfer of $6 billion in Iranian financial assets in exchange for the release of five American hostages. The Administration claims the funds are used for “humanitarian” purposes. The Iranian regime is highly skilled in evasion, cutting corners, and blurring lines to hide the true use of these funds. Regardless of what anyone says, the bottom line is this deal provides Iran with more access to resources to fund its terrorist activities and dealings, including support for proxies like Hamas and Hezbollah.
Intelligence has proven that Iran, one of the largest state sponsors of terrorism, has direct ties to Hamas and other terrorist organizations. Over the past few months, the world has watched Hamas increasingly unleash unprovoked violence on innocent Israelis. From the beginning, I’ve made my message clear that the U.S. should stand unequivocally with our ally Israel and its right to protect its borders against these barbaric terrorists.
My colleagues and I committed to bolstering national security and holding the Biden Administration accountable. Following the Biden Administration’s reckless release of the $6 billion of Iranian funds, it is imperative, now more than ever, that we uphold those commitments. That’s why House Republicans voted to pass H.R. 5961, the No Funds for Iranian Terrorism Act, a bill that would effectively freeze these funds, which Iran could use to fund nefarious activities. This critical legislation imposes immediate, mandatory sanctions on any financial institution that engages in a transaction with the banks holding the $6 billion in Iranian funds.
