Legislation designed to toughen sanctions on Iran has been introduced in the U.S. House by Congressman Bill Huizenga.
Huizenga tells us the No U.S. Financing for Iran Act would effectively cut off the Iranian government from the U.S. financial system. He says this is to cut back on some of the slack that’s been given to Iran.
“We are hoping we’ll be able to see some action on that through the Foreign Affairs Committee as well as the House Financial Services Committee, and possibly get something to the floor in a package of bills to make sure that some of thee backsliding that has happened with the sanctions on Iran are reinstated,” Huizenga said.
Specifically, Huizenga’s bill would prohibit the Secretary of Treasury from authorizing transactions by U.S. financial institutions to Iran for any goods, services, or technology. There’s an exception for food and medicine.
The legislation would also prevent the IMF from providing financial assistance to Iran and the allocation of Special Drawing Rights.
Huizenga says Iran is the leading state sponsor of terrorism, and it’s time to crack down on its government.
