The House of Representatives approved legislation on Wednesday that U.S. Rep. Bruce Poliquin (R-ME) introduced to shed light on the assets of Iran’s regime, an accused sponsor of terrorism.
The Iranian Leadership Asset Transparency Act, H.R.5461, would publicly disclose the estimated assets of Iranian leaders, including the supreme leader of Iran, members of the Council of Guardians, members of the Expediency Council and top military leaders.
“Iran is the world’s leading state sponsor of terrorism and they cannot be trusted,” Poliquin said. “Iran’s top government leadership, including the Supreme Leader and the military and political leaders, have amassed substantial wealth from their tyrannical rule of their people. Reports have indicated these funds are being used to support and sponsor terrorism. I am proud Democrats and Republicans in the House acted today to move forward this important legislation to make these assets public so the world knows where the money is going.”
Under the bill, the Treasury Department would be directed to draft a list of estimated funds and assets held by senior Iranian political and military leaders, and to report to Congress on its findings.
“We need to know as much as we possibly can about how Iran is financing terrorism,” U.S. Rep. Jeb Hensarling (R-TX), the chairman of the House Financial Services Committee, said. “We need to make sure financial institutions and private businesses do not inadvertently become involved in money laundering and sponsorship of terrorism. I applaud Mr. Poliquin for his hard work in drafting a bill that will help achieve some common sense goals as we fight the financing of terrorism.”
Fellow House Financial Services Committee member U.S. Rep. Randy Hultgren (R-IL) added that Iran’s sponsorship of terrorist attacks against both the U.S. And its allies is well-known.
“Yet many of Iran’s citizens, and many who do business with Iran, are unaware of the corruption at the highest levels of the Iranian regime to fund terror,” Hultgren said. “Given this administration’s recent infusion of billions in cash to the Iranian government, further corruption is inevitable. The Iranian Leadership Asset Transparency Act would expose the assets of these leaders, ensuring the public knows where they got their money and where it goes. A public list will ensure we understand how corruption is harming ordinary Iranians and the United States.”
Speaking in support of the bill, House Majority Leader Kevin McCarthy (R-CA) said that in “corrupt and closed off” countries like Iran, many senior leaders commend the greatest wealth and control “broad swaths” of the national economy.
“In particular, the Islamic Revolutionary Guard Corps can use this economic power to support terrorism,” McCarthy said. “The Iranian people deserve transparency. They deserve to know what their political and military leadership is stockpiling behind the scenes in place of providing their population with a better life. This bill is about accountability, transparency, and counter-corruption—plain and simple.”