“You can’t be for Iran and Israel at the same time.”
WASHINGTON – Senator Tommy Tuberville (R-AL) joined Senator Tim Scott (R-SC) and twenty-six of their colleagues in introducing the Revoke Iranian Funding Act to freeze the $6 billion in funding the Biden administration released to Iran at the bank in Qatar where it is currently being held. This would ensure these dollars are not used by Iran to promote terrorism against Israel or any other nation. In addition, the bill directs the Treasury Secretary to study all high-value Iranian assets around the world that are currently blocked by U.S. sanctions and provide that information to Congress, ensuring Congress has the information to enact further targeted legislation, if necessary.
Read an overview of the bill here and a section-by-section here.
“When Joe Biden took office, Iran was broke,” said Senator Tuberville. “But now they’re flush with cash and there is no doubt they just helped Hamas murder more than 1,000 Israelis and 30 Americans. Joe Biden gave Iran $6 billion in September and then waited five days after the attacks to pause the flow of the money. By doing so, Joe Biden has effectively admitted that allowing funds to flow to Iran ultimately funds terrorism. It’s time to finish the job and freeze the funds altogether. Not one more dime should be sent to the world’s leading sponsor of terrorism. You can’t be for Iran and Israel at the same time.”
BACKGROUND:
Iran is the world’s leading state sponsor of terrorism and provides Hamas with hundreds of millions of dollars in material and financial support. Given the fungible nature of money, the recent $6 billion released to Iran for so-called humanitarian purposes cannot be reliably prevented from funding future terrorist attacks. Iran has explicitly acknowledged their willingness to use any and all monetary gains to support acts of terrorism.
Reports indicate that U.S. and Qatar have reached “a quiet understanding” not to release any of the $6 billion held in Qatar. A “quiet understanding” does not effectively prevent Iran from accessing these funds. Further, other large sums of Iranian money blocked by U.S. sanctions remain around the globe and could be used to compensate Iran.
The Revoke Iranian Funding Act would:
- Freeze and prevent future transfer of the $6 billion of Iranian assets housed in Qatar by revoking Treasury and State General Licenses provided to the funds and prevent future licenses from Treasury or State in relation to the $6 billion.
- Direct the Treasury Secretary to study all high-value Iranian assets around the world that are currently blocked by U.S. sanctions and provide that information to Congress. This would increase transparency and, if necessary, give Congress the information they need to enact targeted legislation to help ensure the Iranian regime does not have access to the funds in the future.
Senator Tuberville stands unequivocally with Israel and believes the lives tragically lost are a result of Joe Biden’s appeasement of Iran. Joe Biden has let Iran off the hook by loosening sanctions, attempting to re-enter the Iran Nuclear Deal, and, most recently, handing over $6 billion to Iran. Joe Biden’s appeasement of Iran has only emboldened them to work with Hamas to orchestrate terrorist attacks against our closest ally in the Middle East.
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.
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