Washington, D.C. – Today, with the support of Congressman Rouzer, the House of Representatives passed H.R. 3662, the Iran Terror Finance Transparency Act, to curb the easing of economic sanctions that had been imposed on Iran before it signed last year’s nuclear deal. H.R. 3662 requires that the President certify that Iranian individuals or companies no longer support terrorism, assist with the pursuit of weapons of mass destructions, or engage in illicit financial activities before lifting sanctions.
“In light of the Administration’s deal with Iran, we must put in place measures to cut off as much funding of terrorist activity as possible. Passage of H.R. 3662 would increase our national security by ensuring that banks and companies who support or engage in terrorism are not granted sanction relief.”
Under the Iran nuclear agreement, the Obama Administration agreed to provide Iran relief from nuclear related sanctions by use of waivers and regulatory authority. H.R. 3662 provides Congress with increased oversight to ensure bad actors who engage or support international terrorism, Iran’s ballistic missile program, and its conventional weapons programs are not relieved of their sanctions.