Senate Republicans are taking action to permanently freeze the Biden administration's $6 billion ransom payment to Iran with legislation that sets the stage for Congress to seize a range of Iranian assets across the globe.
The measure, introduced Monday by Sen. Tim Scott with the backing of 20 Republican colleagues, marks the first bid by the upper chamber to lock the $6 billion payment in place, effectively preventing the Biden administration from making it available to Iran at a later date, according to a copy of the legislation obtained by the Washington Free Beacon.
Congressional Republicans say the Biden administration is not going nearly far enough to cut off Tehran's access to financial assets, particularly as it rallies regional militant groups behind Hamas.
The bill is just one example of efforts in Congress to close off avenues the Biden administration could use to route money to Iran.
Similar legislation is circulating in the Republican-controlled House, and with concerns about Iran's terrorist enterprise mounting on both sides of the aisle, it is possible Congress will nullify the Biden administration's November hostage deal.
"In the wake of Hamas's horrific attacks on Israel, it has only become clearer that this rogue regime cannot be trusted as long they continue to support terrorist organizations." The legislation, dubbed the Revoke Iranian Funding Act, uses Congress's power over the purse to permanently refreeze the $6 billion in assets, which were released from a South Korean bank and placed in Qatar after the Biden administration issued several sanctions exemptions.
The executive-branch-authored licenses would be revoked under the legislation, effectively barring Qatar or any other nations from moving them back to Iran.
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