The U.S. House has approved legislation from Congressman Bill Huizenga that would tighten sanctions on Iran.
HR 5921 would block Iran from using International Monetary Fund dollars. Huizenga said on the House floor this week it’s all intended to prevent it from financing terrorism.
“It stops Iran from being able to use the U.S. financial system while ensuring that institutions under our committee’s jurisdiction keep their distance from the government in Tehran,” Huizenga said.
Huizenga said the bill will prohibit Treasury from issuing licenses that allow U.S. financial institutions to enable trade with Iran. That’s not all.
“My bill extends to existing prohibition against the Export-Import Bank financing projects in Iran and that benefit Iran’s leaders.”
The legislation would also cut Iran off from the International Monetary Fund.
Huizenga said the bill, which has been in the works for months, is all the more relevant after Iran’s direct attack on Israel this past weekend.
The House passed the bill 294 to 105 Monday.
