Young Oak Kim: “I thank the Chairman for yielding. Mr. Speaker, I rise in strong support of my bipartisan bill, H.R. 6323, the Iran…”

“I thank the Chairman for yielding. Mr. Speaker, I rise in strong support of my bipartisan bill, H.R. 6323, the Iran Counterterrorism Act. Israel is confronting a critical moment as it fights for its right to exist. Iran and its proxies continue to attack our greatest ally in the Middle East and the lone democracy in the region. As a key financial supporter of Hamas, Iran has sought to indirectly wage war against our Israeli allies. This was demonstrated by Hamas' barbaric attack on October 7. Now, Iran's hostility has become direct. Last weekend, Iran attacked Israel with drones and missiles launched from Iranian soil. This shows how the ayatollahs are seeking to open up another front as Israel fights for survival. Iran's aggression underlines the need for greater congressional oversight when the executive branch waives U.S. sanctions on Tehran. That is the focus of H.R. 6323. Under current law, the United States imposes secondary sanctions against foreign financial institutions that do business with blacklisted Iranians. However, using the law's waiver authority, President Biden eased some of these sanctions last September. Just as Hamas was preparing its assault, the Biden administration greenlit the transfer of $6 billion in Iranian funds in exchange for the release of five American hostages. The waiver did nothing to deter Iran from its continued attempts to destroy Israel. H.R.…”