Wednesday , 24 July 2024

Over 40 Lawmakers Urge Biden to Promptly Enforce New Iran Oil Sanctions

iranintl – A bipartisan group of over 40 US House lawmakers has called on the Biden administration to “expeditiously implement” stringent new Iran sanctions targeting the country’s oil exports to China.

The House lawmakers signed a letter to US Secretary of State Antony Blinken and Treasury Secretary Jannet Yellen, urging the Biden Administration to implement new sanctions on Iranian petroleum, enacted through the SHIP Act and the Iran-China Energy Sanctions Act.

“The illicit Iranian oil trade has allowed Iran to raise over $100 billion just since 2021, allowing the regime to invest in its terrorist-proxies and sow insecurity across the Middle East,” the bipartisan group of congresspeople led by Mike Lawler (R-NY-17), Josh Gottheimer (D-NJ-05), and Jared Moskowitz (D-FL-23) argued in their letter.

“However, Iran does not act alone. China is the largest purchaser of Iranian oil, buying a significant majority of 80-90% of these exports. We have been clear that the US must act decisively to stop the Iran-China oil trade and eliminate this significant source of Iran’s revenue. Existing sanctions on Iranian oil must be strictly enforced, but it is also imperative that the Administration fully utilize the new authorities created by H.R. 815.” the letter added.

The lawmakers concluded that “as Iran continues its campaign of terror, we urge you to expeditiously implement sanctions enacted through the SHIP Act and the Iran-China Energy Sanctions Act.”

Both bills passed the House with overwhelming bipartisan support last year and were later incorporated into the most recent supplemental national security package. They became law when President Joe Biden signed that legislation on April 24.

The SHIP Act requires the imposition of sanctions on foreign ports and refineries that knowingly process Iranian oil.

The Iran-China Energy Sanctions Actalsorequires the imposition of sanctions on Chinese financial institutions that process transactions involving Iranian oil.

The Monday letter signed by the 41 US lawmakers is the latest call by members of the Congress for the Biden administration to do more to stop the flow of Iran’s oil exports to China.