House Passes Slate of Bipartisan Financial Services Legislation to Hold Iran Accountable for Acts of International Aggression
Washington,
April 16, 2024 -
The U.S. House of Representatives passed four pieces of bipartisan financial services legislation to hold Iran accountable for acts of international aggression and financing of terrorism.
The financial services bills passed by the House include:
H.R. 5923, the "Iran-China Energy Sanctions Act of 2023," sponsored by Rep. Mike Lawler (NY-17), expands the secondary sanctions regime involving Iran to include all transactions between Chinese financial institutions and sanctioned Iranian banks that handle the purchase of petroleum and petroleum products. The bill requires an annual determination of whether Chinese financial institutions have engaged in sanctionable conduct.
Watch Rep. Lawler’s remarks in support of H.R. 5923 here or by clicking on the image above.
H.R. 5921, the "No U.S. Financing for Iran Act of 2023," sponsored by Rep. Bill Huizenga (MI-04), stems the resources available to Iran by prohibiting Treasury from issuing any licenses authorizing a U.S. financial institution to engage in transactions for trade with Iran, other than humanitarian aid benefitting Iranian citizens. The bill also requires the Secretary to oppose IMF assistance to Iran and prohibits Special Drawing Rights from being allocated to Iran.
Watch Rep. Huizenga’s remarks in support of H.R. 5921 here or by clicking on the image above.
H.R. 6245, the "Holding Iranian Leaders Accountable Act," sponsored by Rep. French Hill (AR-02), brings transparency to terrorist financing by requiring the President to report on, and subsequently publish, the assets of certain Iranian government officials and terrorist leaders. It also requires Treasury to seek closure of the U.S. and foreign financial institution accounts connected with the assets.
Watch Rep. Hill’s remarks in support of H.R. 6245 here or by clicking on the image above.
H.R. 6015, the "Iran Sanctions Accountability Act of 2023," sponsored by Rep. Blaine Luetkemeyer (MO-03), requires the President to issue regulations to ensure that humanitarian exemptions involving Iran sanctions do not facilitate acts of international terrorism or the proliferation of weapons of mass destruction.
Watch Chairman McHenry’s remarks in support of H.R. 6015 here or by clicking on the image above.
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