The current U.S. President is facing inquiries regarding his decision to renew a sanction exemption for Iran, in light of its alleged connections to the terrorist attacks on October 7 attributed to Hamas.
Bryan Steil, the Chair of the House Administration Committee and a Republican from Wisconsin, is seeking clarification on the decision of the administration to renew a sanction relief that enabled Tehran to access approximately $10 billion in previously inaccessible funds.
In a communication dated November 13, 2023, Steil addressed the President, highlighting the move to grant the Islamic Republic of Iran, recognized as a leading global sponsor of terrorism, access to these funds. This move coincides with Steil’s introduction of a bill aimed at terminating financial support for Hamas and other recognized terror sponsors.
This development comes in the wake of the October 7th attack, believed to be orchestrated by Iran’s proxy, Hamas. The attack adds to the ongoing conflicts involving Hamas, Hezbollah, and the Houthi factions, who have frequently targeted Israeli civilians with rocket attacks. Furthermore, Iranian proxies have been implicated in assaults on American military personnel.
Steil expressed his serious concerns about this decision, urging a reassessment. He criticized the administration’s public justification for the exemption as inadequate, highlighting the particularly troubling timing of this decision. Steil pointed out Iran’s financial support for Hamas and other regional proxies, along with its ongoing investments in nuclear, missile, and drone programs.
According to Steil, the Islamic Republic continues to show hostility towards Israel, the only Jewish democratic nation in the Middle East, and its threats against U.S. interests have not lessened. In fact, recent weeks have seen an escalation in hostilities by Iran-backed militias in Iraq and Syria, with over 61 attacks on U.S. forces in the region.
Steil, alongside Representative Brittany Pettersen, a Democrat from Colorado, introduced the “End Financing for Hamas and State Sponsors of Terrorism Act” (H.R. 6632). This legislation aims to disrupt Hamas’s ability to fund terrorism and violence and prevent state sponsors of terrorism, such as Iran, from misusing International Monetary Fund (IMF) resources to finance terrorist organizations, including Hamas, Palestinian Islamic Jihad, and Hezbollah.
Steil recently tweeted, highlighting the administration’s decision to allow Iran access to $10 billion, criticizing the continuous financial support provided to the world’s leading state sponsor of terrorism. He emphasized the need for strict enforcement of sanctions.
Steil’s proposed bill seeks to prohibit the U.S. Treasury Department from utilizing the Exchange Stabilization Fund (ESF) for transactions benefiting state sponsors of terrorism. It also mandates the Treasury Secretary to collaborate with the Group of Seven (G7) in developing a strategy to incapacitate Hamas’s ability to finance armed conflicts against Israel.
In a statement announcing the bill, Steil underscored Iran’s pivotal role in financing Hamas and other terrorist organizations that target Israel, Jews, and American personnel. He stressed the urgency of employing all financial means to deprive the foremost state sponsor of terrorism of revenue, aiming to weaken Iran’s capacity to fund groups like Hamas and Hezbollah, and prevent future atrocities similar to the October 7 incident.
