McCaul proposes bill to halt $6B Iranian fund release.
House Foreign Affairs Committee Chairman Introduces Bill to Freeze Iranian Assets
House Foreign Affairs Committee Chairman Michael McCaul (R-Texas) has taken action to permanently freeze billion in Iranian assets that were unfrozen by the Biden administration. This move comes after the administration released the funds as part of a prisoner exchange with Iran, with the assets currently held in the Qatari banking system.
McCaul’s bill, known as the No Funds for Iranian Terrorism Act, is particularly timely as Israel faces attacks from Hamas, a terrorist group backed by Iran and Qatar.
Related Stories
The Biden administration has stated that there is no concrete evidence linking Iran to the Hamas attacks, despite conflicting reports from The Wall Street Journal.
The State Department argues that it has the authority to refreeze the $6 billion, asserting that the funds are restricted to humanitarian and non-military purposes. However, critics argue that the money is fungible, meaning it can be used for any purpose, including supporting terrorism.
According to the Biden administration, the recent Hamas-Israel conflict, which began on Oct. 7, has resulted in the deaths of over 4,000 people, including at least 30 Americans.
“No matter what assurances the Biden administration makes, the president of Iran has said he would use this money however he wants,” stated McCaul. “Iran is the largest state sponsor of terror in the world. We cannot give them another $6 billion for their terror operations, which include ongoing support for Hamas’ unprovoked war against our ally Israel.”
The bill currently has 24 cosponsors and awaits further action in the House.
The Epoch Times has reached out to the White House for comment on the bill, but a response is pending until the House elects a speaker, scheduled for Oct. 17 at 12 p.m. ET.
Rep. Jim Jordan (R-Ohio) has gained momentum in his bid for the speaker position, rallying support by highlighting the war in Israel as a pressing issue that requires House leadership. This comes after the removal of Rep. Kevin McCarthy (R-Calif.) on Oct. 3.
In response to the Hamas attacks, Israeli Prime Minister Benjamin Netanyahu has declared war on the terrorist group, vowing to destroy their hiding places and operational bases.
“All the places that Hamas hides in, operates from, we will turn them into ruins,” Netanyahu affirmed.
Israel has launched retaliatory strikes in Hamas-controlled Gaza, and President Joe Biden is scheduled to visit Israel on Oct. 18, followed by a stop in Jordan.
What are the potential dangers of released Iranian assets being used to support terrorism or destabilize the region, as expressed by members of both parties?
On-in-iran-assets-that-could-fund-terrorism-5505612?ea_src=author_manual”>According to The Epoch Times, members of both parties have expressed concerns that the released funds could be used to support terrorism or further destabilize the region.
Chairman McCaul’s bill aims to prevent these potential dangers by permanently freezing the $6 billion in assets. The No Funds for Iranian Terrorism Act would not only protect American and Israeli security interests but also send a strong message to the Iranian regime that their support for terrorist organizations will not go unanswered.
The bill has garnered support from both sides of the aisle, with 107 House Republicans joining McCaul in bringing the legislation forward. This bipartisan effort underscores the widespread recognition of the threat posed by Iran’s support for terrorism.
While the Biden administration has expressed a desire to engage in diplomatic talks with Iran, the release of the Iranian assets has raised questions about their commitment to addressing Iran’s destabilizing activities in the region. By advocating for the freezing of these assets, Chairman McCaul is urging the administration to prioritize the safety and security of the United States and its allies.
In addition to the concerns over terrorism, there is also the issue of Iran’s nuclear program. The Iranian regime has repeatedly violated international agreements and continued to pursue its nuclear ambitions, despite previous sanctions. Freezing Iranian assets would exert economic pressure on the regime and potentially weaken its ability to fund its nuclear program.
Furthermore, the involvement of Qatar in holding the Iranian assets raises additional concerns. Qatar has been known to provide financial support for extremist groups, and their role in the transfer of these funds adds another layer of complexity to the situation.
Chairman McCaul’s bill represents a vital step in addressing the threat posed by Iran’s support for terrorism and its nuclear program. By permanently freezing the $6 billion in assets, the United States can take a proactive stance in protecting its interests and those of its allies in the region.
The bipartisan support for this legislation emphasizes the need for a united front in countering Iran’s destabilizing activities. It is crucial for the Biden administration to listen to the concerns of lawmakers from both parties and take action to address the potential risks associated with the release of Iranian assets.
As the situation in the Middle East continues to evolve, it is imperative that the United States remains vigilant in protecting its national security interests. Chairman McCaul’s bill provides an important tool in achieving this goal and sends a clear message that supporting terrorism will not be tolerated.
The No Funds for Iranian Terrorism Act serves as a reminder that the United States will not turn a blind eye to threats posed by Iran’s regime. It calls for a proactive approach to safeguard American and Israeli security interests and holds Iran accountable for its support of terrorist organizations.
As the bill makes its way through Congress, it is my hope that lawmakers will recognize the importance of freezing Iranian assets and take the necessary steps to pass this legislation. By doing so, we can work towards a safer and more stable Middle East, where the reign of terrorism is diminished, and peace and security prevail.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
