WASHINGTON, D.C. – U.S. Senator Katie Britt (R-Ala.) is joining senator Tim Scott (R-S.C.) as the ranking member of the Senate Committee on Banking, Housing, and Urban Affairs and 22 more colleagues in proposing the Revoke Iranian Funding Act to cancel the general licenses which allowed an influx of $6.5 billion into Iran and to stop Iran from gaining access to the Iranian regime from gaining access to as well as using these funds within Qatar to finance terrorist attacks on Israel, America, or any other country.
Furthermore the bill requires that the Treasury Secretary to examine all of the high-value Iranian assets across the globe that are currently impeded from access due to U.S. sanctions and provide this information to Congress in order to ensure Congress has the data it needs to pass additional legislation, if needed.
“We should not let Iran to continue to enrich themselves and using the money to finance Hamas, Hezbollah, and other terrorists that seek to commit a barbaric act of violence against innocent civilians, including American citizens. We’ve seen it in their response to terror attacks in Israel Iran’s regime Tehran doesn’t care about how many of its citizens are killed or how many women are sexually assaulted and how many children are abducted. It is imperative to end all possible sources of financing to Iran and enforce bone-crushing international sanctions in order to ensure the maximum impact. This will send a clear important message to the world: when you conduct business or do business with the Iranian regime it is likely that it is likely that the United States will view you as a participant in these crimes and take action as such,” said Senator Katie Britt.
“The Biden administration’s decision to let $6 billion go to Iran the world’s most powerful State Sponsor of Terror was a huge mistake that led to the creation of the market to sell American hostages, strengthened our adversaries, and placed an amount of credit to the accounts that of one of Hamas’s major supporters. After Hamas’s brutal attacks on Israel in the last few days, it’s been made clear that this unreliable regime can’t be trusted for long as they continue to fund terrorist groups. My bill offers a comprehensive plan to use our economic sanctions against Iran by freezing the $6 billion, and making sure that Congress is equipped with the necessary information to block Iran from gaining access to the funds in the near future. It is imperative to be clear about we as the United States will not back down and ease sanctions against frozen Iranian funds which are held by other countries.” Scott said the Ranking Member. Scott declared.
Along with Senator Britt and the Ranking Member Scott cosponsors of this measure include: Senators Mike Crapo (R-Idaho), John Cornyn (R-Texas), Lindsey Graham (R-S.C.), John Barrasso (R-Wyo. ), John Hoeven (R-N.Dak. ), Marco Rubio (R-Fla.), Deb Fischer (R-Nebr. ), Shelley Moore Capito (R-W.Va.), Bill Cassidy (R-La. ), Tom Cotton (R-Ark. ), Steve Daines (R-Mont. ), Mike Rounds (R-S.Dak. ), Thom Tillis (R-N.C.), Marsha Blackburn (R-Tenn.), Kyrsten Sinema (I-Ariz.), Kevin Cramer (R-N.Dak. ), Mike Braun (R-Ind. ), Rick Scott (R-Fla.), Cynthia Lummis (R-Wyo. ), Bill Hagerty (R-Tenn.), JD Vance (R-Ohio) as well as Pete Ricketts (R-Nebr. ).
The complete language of the law is available at this link.
