On the recordJuly 14, 2016
To my friend from New York (Mr. Zeldin), perhaps we didn't get a signature, but we got compliance from Iran on their obligations to stop their production of nuclear weapons. {time} 1215 I want to take the rest of my time to hopefully clear up a factual matter. I have profound respect for Chairman Royce, and Congressman Schweikert is one of my closest friends in this Chamber. We seem to have a disagreement as to whether this would jeopardize the JCPOA. This bill would subject non-U.S. banks to the same restrictions that are put on U.S. banks regarding dollar-denominated securities. I would point to, in the JCPOA, annex II, which lists the sanctions to be lifted under the JCPOA, 4.1.3, which lifts sanctions on the provision of U.S. bank notes. This would clearly violate our obligations under the JCPOA, and I would hope that my friends in the majority would acknowledge that fact as they push this bill. I continue to urge its rejection.
