GOP bill seeks to block easing of financial restrictions on Iran

Two Republican senators opposed to the Iran nuclear deal are trying to block an Obama administration proposal that would ease rules on using U.S. dollars in trade transactions with Iran, The Associated Press reported Wednesday.

obama iranMarco Rubio of Florida and Mark Kirk of Illinois introduced legislation that would bar the Treasury from permitting foreign banks to conduct foreign currency trades in U.S. dollars for transactions involving Iran.

The move comes after officials said last week that the Obama administration is considering easing financial restrictions that prohibit American dollars from being used in transactions with Iran, sparking anger among lawmakers opposed to the nuclear deal with Iran.

Administration officials have denied they are considering giving Iran direct access to dollars or to the U.S. financial system as part nuclear sanctions relief, but have left open the possibility of easing some rules on the indirect use of dollars for transactions with Iran as long as they did not involve American or Iranian banks, according to AP.

Rubio and Kirk’s bill, seen by the news agency, would expressly forbid Treasury from issuing any license that would allow anyone “to conduct an offshore United States dollar clearing system for transactions involving the government of Iran or an Iranian person” or “provide United States dollars for any offshore United States dollar clearing system conducted or overseen by a foreign government or a foreign financial institution for transactions involving the government of Iran or an Iranian person.”

Many lawmakers have expressed concern that the proposal to allow Iran access to American dollars would give Iran more than it deserves and open the door to Iranian access to the U.S. financial system, which is currently barred by law.

News of the possible financial relief for Iran came as the Islamic Republic continues to violate UN resolutions by carrying out ballistic missile tests. Last week, in fact, the United States and its European allies demanded that the UN Security Council take action over Iran’s repeated ballistic missile tests, which they noted defied a United Nations Security Council resolution that endorsed last year’s nuclear deal.

In January, the United States imposed sanctions on Iranian companies and individuals in response to the October missile tests. Last week it named units from Iran’s Islamic Revolutionary Guard Corps (IRGC) involved in the country’s ballistic missile program to its sanctions blacklist.

But Iran has remained defiant and continues to insist that it will continue to develop its ballistic missile program despite the sanctions.

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One Comment

  1. When Obama received the word that Kerry had surrendered to Iran’s terms, per BHO orders, at a “piece of table”, the U.S.A.’s worst President ever assumed a smile on his face (which you can’t miss…it’s between his ears) resembling a Cheshire Cat.

    While Iran relaxes by now exporting more oil than it has since it was harnessed by sanctions against it, its Ayatolla probably presumed he could ship new military hardware also, in order to keep inducing his Yemini rebel clients to fight.

    For the third time, the U.S. Navy, which patrols the Gulf and Indian Ocean waters, has intercepted a transport ship, flying the Iranian flag, and stuffed with AK’s, rocket grenades, ammunition, and associated military equipment being shipped to Yemen.via Iran. Iran has broken its agreement with Kerry-Obama as expected, but a new American President in Jan.2017 will have to destroy the faulty agreement now under Obama’s signature.

    The military arms & ammunition could only have come from one country which needs Iranian cash (from Iran’s latest oil sales)which pays cash for Russian military equipment. Russia needs cash, Iran needs military stuff to keep its client terrorists at war.

    What does Obama want? The answer to that question is a mystery.
    He is partial to Islam, and it seems his partiality is to the Shia Muslims in particular, of which Iran is the Shia main power. Iran intends to destabilize governments where ever it can That also includes Central and South America, and I believe Obama has bought into the Castro,Guevara adventure. Communists being “Birds of the Feather” gather together as if magnetized.
    He’s desperate for a legacy, and it won’t ever be that he led America to greatness, but rather ruination.

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