Ed Royce: “I appreciate all the Members who have engaged in this debate. As Ranking Member Engel noted, this is not usually the…”

“I appreciate all the Members who have engaged in this debate. As Ranking Member Engel noted, this is not usually the place we find ourselves. What we have seen from Iran over the last few months is that the Iranian threat isn't going away. So we will have to keep working together to address the Iranian threat, and I look forward to that continuing collaboration. As the Iran nuclear agreement gets set for implementation, some 500 specific individuals and companies and several banks are set to get relief for their ties to the nuclear program. This bill simply asks the President to ensure that those receiving this reprieve are not involved in Iran's support for terrorism, nor are they involved in the missile development program that Iran continues to push for intercontinental ballistic missiles. Soon, maybe in a matter of days, Iran will get access to over $100 billion in frozen oil assets, and this is not going to go to the Iranians on the street. This is not going to go to small business in Iran, to those that despise their government. It is going to go to the regime. It is going to go to the Iranian Revolutionary Guard Corps. The reason it would work that way is because that is the entity that nationalized these businesses years ago, after 1979. They are the ones that right now control approximately a quarter of the entire economy, including the major businesses, such as, for example, energy or construction.…”