As Iran-backed terrorists wage a bloody war against Israel — and launch attacks against U.S. troops in the Middle East — Senators Joni Ernst (R-IA) and Richard Blumenthal (D-CT) are pushing for oil sanctions against Iran to actually be enforced by the Biden administration to cut off a major source of funds for Tehran that are free to be used to support terrorism around the world.
The bipartisan legislation, titled the Iranian Sanctions Enforcement Act, would create a new means for the United States to interrupt Iran's oil-for-terrorism funding scheme by allowing Homeland Security Investigation (HSI) to enforce the existing sanctions against Iranian oil. The companion bill is being introduced by House Counterterrorism, Law Enforcement, and Intelligence Subcommittee Chairman August Pfluger (R-TX).
Within the last three years, Iranian oil revenue has surged by some $80 billion, money used by Tehran and the Islamic Revolutionary Guard Corps (IRGC) to fund, arm, and train terrorists in Hamas, Hezbollah, Palestinian Islamic Jihad (PIJ), and other bloodthirsty groups.
"Right now, we are witnessing the chaos Iran-backed Hamas is inflicting on Israel and the world, funded by the IRGC’s illicit oil sales," Sen. Ernst emphasized in a statement provided to Townhall. "Instead of allowing Iran’s illegal actions to continue, I’m working to cut the red tape and equip HSI, and its proven record of enforcing sanctions, with the support and resources it needs to go after and stop Tehran. By removing this money from Iran’s hands, we can provide more support to victims of terrorism and pay down our national debt," Sen. Ernst explained.
The Iranian Sanctions Enforcement Act would create and make a one-time investment of $150 million in an Iran Sanctions Enforcement Fund — which must be paid back, adjusting for inflation, within the decade — to allow HSI to enforce oil sanctions on Iran and put 25 percent of U.S. oil seizures into the ISEF (75 percent of seizures currently go to the U.S. Victims of State Sponsored Terror Fund — up to $500 million after which additional seizures would be applied as payments to the national debt. In addition, Ernst and Blumenthal's bill would ensure the new authority for HSI can't be rolled back by future administrations.
Join the conversation as a VIP Member