“This Administration enriched and emboldened Iran to the tune of $50 billion – that ends now”
Washington – Today, Congressman Issa (CA-48) introduced the No Funds for Iran-Backed Terror Act, the most comprehensive legislation in Congress to fundamentally alter the direction of U.S. policy toward Iran and finally enforce America’s laws – which the Biden White House has refused to do.
“From day one, Joe Biden steered his administration straight towards Tehran and began a campaign of concessions that led to the war now being waged on Israel,” said Rep. Issa. “This has facilitated as much as $50 billion to Iran this year alone, which only emboldened its commitment to sponsor terrorism. It ends now.
Throughout this year and particularly over the summer, the Biden Administration has systematically underenforced oil sanctions, freed Iranian funds in Iraq, which are now in Oman, and notoriously waived sanctions on September 11, 2023, to release $6 billion in funds held in South Korea which are now in Qatar. It is widely reported that these actions are part of an as-yet undeclared nuclear “understanding” with Iran.
Issa described the framework of his legislation and its four primary components:
· Require the President to enforce existing sanctions on Iranian oil and certify that he is doing so.
· Suspend waiver authority so that the Biden Administration cannot abuse escrow accounts as it did to release the $6 billion from South Korea.
· Revoke waivers and re-freeze funds released from Iraq and South Korea.
· Takes steps to block Iran from capitalizing on special drawing rights at the International Monetary Fund.
“Dozens of Americans are dead at Hamas’ hands. Many more are missing or being held hostage in Gaza. Can Biden look the families in the eye and tell them it was in America’s interest to appease the regime that sponsored this massacre?” said Issa. “This comprehensive legislation marks a necessary course correction in American policy to treat Iran not as a strategic partner, but as the enemy they are.
The bill text can be found here.
ICYMI: This week, Congressman Issa and the Foundation for the Defense of Democracies senior adviser Rich Goldberg published an op-ed in Fox: Biden enriched Iran by more than $50 billion. Here’s how to turn off the spigot read it here.
Darrell Issa is the Representative of California’s 48th Congressional District. The District encompasses the central and eastern parts of San Diego County and a portion of Riverside County, including the communities of Fallbrook, Valley Center, Ramona, Escondido, Santee, Lakeside, Poway, Temecula, Murrieta, and the mountain and desert areas of the San Diego-Imperial County line. Issa served as the Chairman of the House Committee on Oversight and Government Reform from 2011-2015.
