House Votes to Restrain Iran Sanctions Relief
(Washington, DC) – Today, the House of Representatives approved H.R. 3662, the “Iran Terror Finance Transparency Act,” to enhance Congressional oversight over U.S. economic and trade sanctions, and specifically over financiers of Iranian terrorism. Rep. Rob Woodall (GA 07) supported the legislation and issued the following statement:
“From the beginning, U.S. sanctions placed on the Iranian government served the necessary purpose of disrupting its state-sponsored support of terrorism – and following President Obama’s nuclear agreement offering relief from these very sanctions – it is crucial that we be absolutely certain no institution or individual involved in the sponsorship of terrorism is benefitting from this action. The bill passed by the House today gives Congress and the American people the oversight and transparency needed to monitor the process and requires the Administration demonstrate with clarity that no additional resources will be made available to any organization directly or indirectly supporting terrorism. The Iranian government has shown itself untrustworthy through its actions, and it is the responsibility of its leaders to demonstrate otherwise.”
The steps taken through H.R. 3662 include, but are not limited to:
- Blocking the President from offering sanctions relief to an individual or bank until certifying that such entity has not conducted a significant transaction with a terrorist organization, the Islamic Revolutionary Guard Corps, or in support of either Iran’s ballistic missile or its conventional weapons programs;
- Prohibiting the Administration from lifting Iran’s designation as a “Jurisdiction of Primary Money Laundering Concern” until it certifies that the Government of Iran is no longer supporting terrorism, pursuing weapons of mass destruction and their means of delivery, or engaging in illicit financial activities;
- Providing Congress greater insight into how the Treasury Department licenses specific U.S. companies to do business in Iran;
- Applying the Congressional Review Act to provide Congress the ability to disapprove of Iran related changes to the Code of Federal Regulations; and
- Clarifying that Iran’s proxies—Hezbollah, Hamas, and the Palestinian Islamic Jihad—are included in the definition of terrorist organizations for the purposes of financial sanctions against Iran.
Congressman Woodall represents the Seventh Congressional District of Georgia, which includes the majority of Forsyth and Gwinnett counties, and currently serves as Chairman of the Rules Subcommittee on Legislative and Budget Process, as well as serving on the Transportation & Infrastructure Committee, and Budget Committee.