{"id":20214,"date":"2016-04-20T17:10:11","date_gmt":"2016-04-20T16:10:11","guid":{"rendered":"https:\/\/www.ncr-iran.org\/en\/news1613067580\/news-sp-256\/iran-a-world\/20214-rep-ed-royce-introduces-bill-to-deny-iran-regime-access-to-u-s-dollar"},"modified":"2023-01-16T04:31:34","modified_gmt":"2023-01-16T03:31:34","slug":"rep-ed-royce-introduces-bill-to-deny-iran-regime-access-to-u-s-dollar","status":"publish","type":"post","link":"https:\/\/www.ncr-iran.org\/en\/news\/iran-a-world\/rep-ed-royce-introduces-bill-to-deny-iran-regime-access-to-u-s-dollar\/","title":{"rendered":"Rep. Ed Royce introduces bill to deny Iran regime access to U.S. dollar"},"content":{"rendered":"<p><img decoding=\"async\" title=\"royce-introduces-bill-to-deny-iran-regime-access-to-u-s-dollar-400\" class=\" size-full wp-image-45727\" src=\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/sites\/2\/2016\/04\/royce-introduces-bill-to-deny-iran-regime-access-to-u-s-dollar-400.jpg\" alt=\"royce-introduces-bill-to-deny-iran-regime-access-to-u-s-dollar-400\" width=\"400\" height=\"250\" srcset=\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/2016\/04\/royce-introduces-bill-to-deny-iran-regime-access-to-u-s-dollar-400.jpg 400w, https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/2016\/04\/royce-introduces-bill-to-deny-iran-regime-access-to-u-s-dollar-400-300x188.jpg 300w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/p>\n<p>United States House of Representatives Foreign Affairs Committee Chairman Ed Royce (R-CA) on Tuesday introduced legislation to prevent the Obama administration from allowing Iran&#8217;s regime access to transactions involving the U.S. dollar as long as the Iranian regime continues to engage in illicit activities, including the development of ballistic missiles and terrorism.<\/p>\n<p>The bill, The U.S. Financial System Protection Act (H.R. 4992), codifies existing regulations that prohibit the administration from allowing the U.S. dollar to be used to facilitate trade transactions with Iran&#8217;s regime and upholds Iran\u2019s designation as a \u201cprimary money laundering concern.\u201d This covers direct dollar transactions and work-arounds including dollar-clearing, dollar-based conversions and dollar-related foreign currency transactions. These prohibitions, which were first levied against Iran&#8217;s regime nearly a decade ago in response to its support for terrorism, human rights abuses, money laundering and ballistic missiles program, would remain in place until the president certifies Tehran is no longer engaging in these dangerous acts, Rep. Royce&#8217;s office said<a href=\"http:\/\/foreignaffairs.house.gov\/press-release\/chairman-royce-introduces-bill-deny-iran-access-us-dollar\" target=\"_blank\" rel=\"alternate noopener noreferrer\"> in a statement<\/a>.<\/p>\n<p>\u201cOne month ago, I asked [U.S. Treasury] Secretary Lew a simple question: is the president preparing to give the Iranian regime new relief by allowing it access to the U.S. dollar? Alarmingly, the Obama administration still can\u2019t provide a direct answer,\u201d Chairman Royce said.<\/p>\n<p>\u201cIf President Obama won\u2019t rule out new concessions to the Iranian regime, Congress should. Allowing a belligerent Iran access to the U.S. dollar poses real dangers to our country and our economy. Indeed, the Financial Action Task Force, an organization comprising nearly 40 nations, warned in February it remains \u2018exceptionally concerned about Iran\u2019s failure to address the risk of terrorist financing and the serious threat this poses\u2019 to the world\u2019s financial system.\u201d<\/p>\n<p>\u201cIran was shut out of the U.S. and global financial system because of its support for illicit activities, including terrorism, ballistic missiles, and human rights abuses. These sanctions should remain in place, as President Obama promised, until Iran changes its behavior. Iran\u2019s supreme leader must not be allowed to seek \u2018death to America\u2019 with U.S. dollars in his pocket,\u201d he added.<\/p>\n<p>The full text of the legislation is available <a href=\"http:\/\/foreignaffairs.house.gov\/sites\/republicans.foreignaffairs.house.gov\/files\/HR 4992 text.pdf\" target=\"_blank\" rel=\"alternate noopener noreferrer\">HERE<\/a> and a section-by-section summary is available for download <a href=\"http:\/\/foreignaffairs.house.gov\/sites\/republicans.foreignaffairs.house.gov\/files\/HR 4992 section by section.pdf\" target=\"_blank\" rel=\"alternate noopener noreferrer\">HERE<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>United States House of Representatives Foreign Affairs Committee Chairman Ed Royce (R-CA) on Tuesday introduced legislation to prevent the Obama administration from allowing Iran&rsquo;s regime access to transactions involving the [&#8230;]<\/p>\n","protected":false},"author":10,"featured_media":45727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[175],"class_list":{"0":"post-20214","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-iran-a-world","8":"tag-updated"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rep. 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