McCaul Introduces Legislation to Increase Financial Pressure on Iranian RegimePress Release
Washington D.C. – Yesterday, House Foreign Affairs Lead Republican Michael McCaul (R-TX) introduced H.R. 2118, the Iran Ballistic Missiles and International Sanctions Enforcement Act. This bill would authorize sanctions on Iran’s development and financing of ballistic missile technology and address the Islamic Revolutionary Guard Corps’ (IRGC) outsized role in Iran’s economy by lowering the minimum threshold for sanctionable transactions. Lead Republican McCaul released the below statement following the bill’s introduction:
Lead Republican McCaul: “Yesterday President Trump took a historic step in countering Iran’s persistent use of terrorism as a key tool of statecraft by designating its Revolutionary Guard Corps (IRGC) as a Foreign Terrorist Organization. This is an important elevation of our maximum pressure campaign against Iran, yet even more can be done to counter their reckless behavior.
“Iran continues to develop and test ballistic missiles capable of carrying nuclear weapons. Iran also fuels conflicts throughout the Middle East by providing its proxies and partners with a range of sophisticated weaponry, guidance, and other support. The IRGC continues to wreak havoc in Syria, Lebanon, and Iraq, directly undermining international efforts to resolve conflicts and promote stability.
“This bill would authorize sanctions for Iran’s development and financing of ballistic missile technology and would lower the minimum threshold for sanctionable transactions to limit the IRGC’s access to resources. These provisions had bipartisan support last Congress, and I look forward to working with my Democratic colleagues to move this bill forward.”