07.14.16

Sullivan Cosponsors Countering Iranian Threats Act

Legislation includes Sullivan provision to block Iranian pathway to U.S. financial system

WASHINGTON, DC – One year to the day since President Obama’s Iran nuclear deal was announced, U.S. Senator Dan Sullivan (R-AK) joined U.S. Senators Bob Corker (R-Tenn.), Robert Menendez (D-N.J.), Marco Rubio (R-Fla.), and Joe Manchin (D-W.Va.) as an original cosponsor of the Countering Iranian Threats Act of 2016. This legislation would extend the Iran Sanctions Act; expand sanctions for ballistic missile development, support for terrorism, and other illicit Iranian activities; sanction transfers of conventional weapons to or from Iran; and codify the prohibition on “U-turn” transactions involving Iran.

“When President Obama and Secretary Kerry were selling the nuclear deal with Iran, implicit in their appeal was that it would mark the beginning of a more transparent and cooperative Iran,” said Senator Sullivan. “However, since its signing, we’ve seen attempt after attempt by the Iranian regime to undermine, circumvent or blatantly disregard the conditions they agreed to exactly one year ago. Ignoring clear violations of the deal without reproach only emboldens the regime to act further. For the sake of U.S. national security and the global fight against terrorism, Congress must act when the Obama administration is not prepared to. That is why I am pleased to have worked with my colleagues on a bill that recognizes that the Iranian threat still exists.” 

The legislation includes provisions introduced by Senator Sullivan earlier this year, when the Obama administration’s Department of Treasury contemplated giving Iranian banks access to U.S. dollars through offshore “clearing houses.” It prohibits the use of the International Emergency Economic Powers Act (IEEPA) to issue licenses to conduct offshore dollar-clearing with an Iranian financial institution until the President certifies to Congress that Iran is no longer designated a state sponsor of terrorism.  

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