Congressman Kevin Brady (R-TX) released the following statement on the passage of H.R.3662, the Iran Terror Finance Transparency Act which requires Congress’ certification before the President can lifts sanctions on financial institutions in Iran.
“This restores the power of Congress, not President Obama, to determine if financial sanctions are lifted on Iran. Why is the White House enabling more terror and weapons for Iran to use against America and our friend Israel? America’s national security comes first.”
Background: H.R. 3662 would prohibit the president from removing a foreign financial institutions and individuals from specified lists of blocked nationals until it certify to Congress that the individual or organization is not involved in any elicit or terrorist activity.
H.R. 3662 would amend the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 in order to prohibit, or impose strict conditions, on the opening of accounts in the United States by a foreign financial institution that facilitates Iran’s support for Hezbollah, Hamas, the Palestinian Islamic Jihad, or any affiliates.