New crisis on the way: attempt to block Iran’s $6 billion

The US House of Representatives passed a bill that would block access to $6 billion belonging to Iran, which it had previously released, alleging that “Hamas played a role in its attacks against Israel.”

The bill titled “Non-Financing of Iranian Terrorism Act” was approved by the House of Representatives with 307 votes in favor and 119 against. This bill, supported by Republicans and aimed at preventing money transfers to Iran on the grounds that “Hamas plays a role in its attacks against Israel,” is expected to be discussed in the Senate.

Additionally, the bill provides for the imposition of sanctions on any government or individual involved in carrying out the money transfer in question.

Michael McCaul, Republican chairman of the House Foreign Affairs Committee, defended the bill, saying: “With such instability in the region, the last thing we need to do is provide access to $6 billion to transfer to terrorism-backed for Iran.”

On the other hand, Democrats who opposed the bill argued that the decision to transfer money to Iran was appropriate, pointing out that 5 Americans were freed thanks to the prisoner exchange with Iran.

THEY AGREE

Iran cannot access its frozen assets in some countries due to unilateral US sanctions.

Under the prisoner and detainee exchange agreement reached between Iran and the US in August, approximately $6 billion of Iranian currency held in South Korea was released.

Finally, on October 7, the Luxembourg Supreme Court decided to remove legal obstacles to Iran’s access to foreign currency assets, which the United States had requested to confiscate.

This decision reportedly opened foreign currency assets worth $1.7 billion to the Central Bank of Iran. (AA)