U.S. Approves Permanent Freeze of $6 Billion in Iranian Assets

The U.S. House of Representatives approved a bill to permanently freeze $6 billion in Iranian assets.

Republican Representative “Michael McCaul” introduced a bill that requires the Biden administration to permanently freeze $6 billion in Iranian assets that were unfrozen in connection with the release of five American prisoners. The bill passed the U.S. House of Representatives with 307 votes in favor and 119 votes against.

In September of this year, the Foreign Ministry of the Islamic Republic announced the exchange of five Iranian prisoners in return for five American prisoners, and on that same day, approximately six billion dollars in unfrozen Iranian funds were transferred from Switzerland to Qatar.

In the freezing bill, the U.S. House of Representatives also approved amendments that condemn the use of civilians as human shields by Hamas and Iran-backed groups, as well as antisemitic acts. The bill also requires the Biden administration to sanction any entity or organization that attempts to unfreeze these six billion dollars.

Mike Simpson, a Republican member of the U.S. House of Representatives, said regarding the bill: “This bill limits Iran’s ability to provide financial support to terrorists like Hamas.”

Guy Reschenthaler, a Republican member of the U.S. House of Representatives, also described the bill as a clear message showing that the Islamic Republic cannot escape the consequences of financing terrorism and attacking American forces.

Ken Calvert, a member of the U.S. House of Representatives, while supporting the permanent freeze of Iranian assets, said: “The Biden administration carelessly released these assets. America must cut off access to resources that are being used for violence against American forces and its allies.”