House passes Republican-backed bill to block Iran’s access to $6-B fund

House passes Republican-backed bill to block Iran’s access to $6-B fund

A resolution that aims to block Iran from accessing billions of dollars in funds received overwhelming support from House Republicans and Democrats.

The “No Funds for Iranian Terrorism Act” was supported by most Republicans, including 90 Democrats who voted in favor of the measure, resulting in a 307-119 vote.

Representative Michael McCaul, the bill’s author, criticized United States President Joe Biden for entering into a ‘reckless hostage deal with Iran’ and accused his administration of funding terrorism in the Middle East.

“But it’s absolutely undeniable that this hostage deal was a catastrophic mistake…covered under the 2023 hostage deal,” according to Rep. Michael McCaul, House Foreign Affairs Committee Chair.

The bill sought to make the Biden administration accountable by blocking Iran from accessing the $6-B fund and sanctioning any government or individual involved in processing the transfer of the money.

In response to the criticisms, US officials insisted that the funds can only be used for humanitarian needs and that no single dollar has been spent yet.

McCaul argued despite the money being restricted to aid, it is fungible and could free up other funds for Tehran to provide support to Hamas.

For its part, Iran rejected allegations it had a role in the deadly surprise attack by Hamas on October 7.

The resolution needs to be submitted to the Senate dominated by the democrats where it is expected to encounter opposition.

 

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