Ed Royce: “Last week, when the Foreign Affairs Committee met to consider this legislation, the ranking member expressed concerns…”

“Last week, when the Foreign Affairs Committee met to consider this legislation, the ranking member expressed concerns that the bill, as introduced, was too broad in our attempt to end payments to Iran in cash and cash-like equivalent. So I committed to sharpening this language as the process moves forward. The amendment before us makes good on that commitment, using the more precise term ``monetary instrument,'' which has a much more specific definition in U.S. law, while also adding precious metals, a real concern among those who closely follow Iran. So that is the nature of the amendment before us. Mr. Chair, I reserve the balance of my time. {time} 1900”