Steil Demands President Biden Enforce Financial Sanctions on Iran

Washington, D.C. – Congressman Bryan Steil (WI-01) yesterday called on President Biden to enforce financial sanctions on Iran following the unprecedented assault on Israel by Iranian-backed terrorist group, Hamas. Steil also urged President Biden to provide answers to Congress on his administration’s approval of a recent sanctions waiver license that gave Iran $6 billion.  

Rep. Steil has advocated for transparency and integrity surrounding the sanctions waiver license process to ensure that the Executive Branch’s foreign policy actions align with Congressional intent. Last year, Rep. Steil introduced the Banking Transparency for Sanctioned Persons Act. This legislation, which was signed into law, increases transparency by requiring the U.S. Treasury Department to routinely report to Congress any sanctions licenses provided to allow transactions between financial institutions and targeted individuals.  

Below are excerpts and highlights from the letter:  

“Over the weekend, the Iranian-backed terrorist group, Hamas, launched an unprecedented assault on Israel. To date, we know of hundreds of civilians who were brutally murdered. Dozens, if not more, have been taken hostage. American citizens are among the victims.  

“Now more than ever we must demonstrate our ironclad commitment to the U.S.-Israel relationship and our mutual stand against terrorism. The recent aggression by Hamas underscores the need to enforce our financial sanctions and deny revenue to the largest state sponsor of terrorism, Iran. Denying the Iranian regime funding means it has less money to spend on terror, missiles, and proxies like Hamas. 

 “As you are aware, on September 11, 2023, your administration notified Congress that the United States issued a sanctions waiver license around August 9, 2023, to allow $6 billion in Iranian assets held in South Korea to be released to Iran. Nearly two months after Hamas’s banker, Iran, received billions of dollars, Hamas launched a massive, unprovoked war on Israel. Arguing that these two events are unrelated strains credulity. 

“I have advocated for transparency into the United States’ sanctions waiver license process to ensure our economic and foreign policy goals are aligned and we are not giving rogue regimes, like Iran, resources to fund death and destruction.” 

CLICK HERE to read the full letter. 

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