In a bipartisan effort, House China Committee Chairman Mike Gallagher led nearly 100 House lawmakers on Wednesday to call on President Biden to refreeze $6 billion in Iranian assets released last month. The move comes in light of the deadly Hamas terrorist war on Israel and concerns that the Iranian regime may use the funds to further fuel the conflict. The lawmakers, including 96 House Republicans and two House Democrats, expressed their unwavering support for Israel’s security and emphasized the need to deny the terrorist-sponsoring regime in Tehran access to funds that can export chaos.
The Biden administration had previously made a deal with Iran in September to swap prisoners and release the frozen Iranian funds. As part of the agreement, Iran released five American citizens detained in the country, while the U.S. released five Iranian citizens held in the United States. The deal also included a waiver to transfer $6 billion in frozen Iranian funds from South Korea to Qatar without violating U.S. sanctions. Administration officials have stated that the funds can only be used for humanitarian needs such as food and medicine.
However, the unfreezing of the funds occurred just before the Hamas terrorists launched a massive and deadly attack on Israel. The lawmakers expressed concern that the Iranian regime would use the financial tools to further fuel the war against Israel, fund other terrorist proxies like Hezbollah, and accelerate Iran’s nuclear buildup. They highlighted Iranian President Ebrahim Raisi’s statement that the funds would be used “wherever we need it,” implying that Iran’s “need” is Israel’s destruction.
Israeli Prime Minister Benjamin Netanyahu declared that Israel was “at war” and vowed that the attackers would pay an unprecedented price. The lawmakers cited Iran’s supreme leader, Ali Hosseini Khamenei, who stated that “this cancer [Israel] will definitely be eradicated” by the Palestinian people and resistance forces throughout the region. Reports of the Islamic Revolutionary Guard Corps’ involvement in planning and giving the final go-ahead for Hamas’ terrorist war on Israel were also mentioned, demanding an immediate response.
The lawmakers emphasized that if left unaddressed, Iran’s support for terrorist groups and attempts to wipe Israel off the map would only become more brazen and destabilizing for the region. While the Biden administration has stated that there is no evidence linking Iran directly to the attacks, the lawmakers pointed out that senior Hamas and Hezbollah officials claimed that IRGC officers had been working with Hamas since August to prepare for invasions of Israel by air, land, and sea.
The letter to President Biden also called for the full enforcement of sanctions on Iranian oil exports to China, which have been unenforced for months, and the prevention of Iran from accessing any further Special Drawing Rights from the International Monetary Fund. The lawmakers urged the administration to take immediate action by freezing the $6 billion provided in exchange for hostages and withholding all waivers, general licenses, and specific licenses for the use of such funds.
Both Senate Democrats and Republicans have also called on President Biden to take similar actions. Senator Jon Tester expressed his support for freezing the Iranian assets and exploring other financial tools to hold Iran accountable for any support they may have provided to the terrorist attacks. Critics argue that the funds can be diverted to other purposes, and Iran’s backing of Hamas and its praise of the attacks on Israel further raise concerns.
This bipartisan effort reflects the growing concern over Iran’s actions and its potential impact on the region’s stability. The lawmakers’ call for President Biden to refreeze the Iranian assets highlights the need to prevent Iran from further subsidizing terrorism and fueling the conflict with Israel. As the situation unfolds, the international community will be closely watching how the Biden administration responds to these demands.
