Senators Kennedy, Cotton, McConnell introduce bill to freeze transfer of $6 billion in assets to Iran

WASHINGTON – Sen. John Kennedy (R-La.) joined Sens. Mitch McConnell (R-Ky.) and Tom Cotton (R-Ark.) in introducing legislation to freeze the Biden administration’s transfer of $6 billion in assets to the Islamic Republic of Iran.

“Just weeks after the Biden White House made shameful negotiations to transfer $6 billion to Tehran without congressional review, the Iranian regime sponsored a devastating terror attack on Israel, killing and taking American citizens hostage. Congress must ensure that the Biden administration freezes these assets before they flow to the Islamic Republic. Allowing the transfer to go through would further enable and embolden Iran’s proxy armies,” said Kennedy. 

“Iran is the world’s worst state sponsor of terrorism. In addition to funding Hamas’s devastating terrorist attacks against Israel, the regime’s proxies have attacked dozens of American targets in the region in recent years. The Biden administration’s decision to let Iran access the $6 billion immediately freed up other money for the regime to fund its attacks in Israel. The Biden administration should immediately re-freeze the funds,” said Cotton.

“The path of resources, training, and lethal weapons from Tehran to terrorists throughout the Middle East is crystal clear. On Saturday, it enabled cold-blooded killers like Hamas and Palestinian Islamic Jihad to perpetrate the deadliest day of violence against Jews in decades. The civilized world must re-impose serious consequences on the regime that aids and abets murderous evil against innocent Israelis. The United States must lead that effort by our example, and freezing Iranian assets is an important first step,” said McConnell.

In August, Kennedy raised concerns to Secretary of State Antony Blinken and Treasury Secretary Janet Yellen about the administration’s move to circumvent congressional authority and potentially enter into a nuclear agreement with the Iranian regime by transferring assets in exchange for U.S. prisoners.

Bill text is available here.

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