House Foreign Affairs Committee Chairman Michael McCaul (R-Texas) introduced on Oct. 17 a bill to permanently freeze $6 billion in Iranian assets unfrozen by the Biden administration.
The administration unfroze the funds last month as part of a prisoner exchange with Iran. Those assets are held in the Qatari banking system.
Mr. McCaul’s bill, the No Funds for Iranian Terrorism Act, comes as Israel has come under attack from Hamas, a terrorist group backed by Iran and Qatar.
The Biden administration has said that there is no definitive proof that Iran was behind the Hamas attacks, although The Wall Street Journal has reported otherwise.
The State Department has said that it has the ability to refreeze the $6 billion. They contend that the money is not fungible as it can be used only for humanitarian and other non-military activities. However, critics argue that the funds are, indeed, fungible because Iran can get $6 billion from elsewhere to pay for malign activities such as supporting terrorism.
According to the Biden administration, at least 4,000 people reportedly have been killed, including at least 30 Americans, in the latest Hamas-Israel conflict, which began on Oct. 7.
“No matter what assurances the Biden administration makes, the president of Iran has said he would use this money however he wants,” said Mr. McCaul in a statement. “Iran is the largest state sponsor of terror in the world. We cannot give them another $6 billion for their terror operations, which include ongoing support for Hamas’ unprovoked war against our ally Israel.”
The bill has 24 cosponsors.
The Epoch Times has contacted the White House for comment on the bill, which cannot be brought to the floor until the House elects a speaker—an action scheduled for Oct. 17 at 12 p.m. ET.
Rep. Jim Jordan (R-Ohio) has gained momentum and has flipped holdouts in his quest to get the gavel. Mr. Jordan has said that the war in Israel is a reason for the House to have a speaker again after the ouster of Rep. Kevin McCarthy (R-Calif.) on Oct. 3.
In response to the Hamas attacks, Israeli Prime Minister Benjamin Netanyahu declared war to eradicate the terrorist group.
“All the places that Hamas hides in, operates from, we will turn them into ruins,” he said.
Israel has launched retaliatory strikes in Hamas-controlled Gaza.
President Joe Biden is scheduled to go to Israel on Oct. 18, followed by a stop in Jordan.
