Last Thursday, U.S. Sen. Katie Britt, R-Alabama, signed onto a letter to U.S. Secretary of the Treasury Janet Yellen pushing for immediate implementation of sanctions on Iran “due to its significant role in financing destabilizing regional terrorism and nuclear development.”
Britt joined other members of the Senate Committee on Banking, Housing, and Urban Affairs, including Ranking Member Sen. Tim Scott, R-South Carolina, and six other Senate Republicans in writing the letter to Yellen.
Earlier this year, Congress passed a security package including the Stop Harboring Iranian Petroleum (SHIP) Act introduced by Sen. Marco Rubio, R-Florida. The SHIP Act imposed sanctions on foreign ports, vessels and refineries connected to the shipping of sanctioned Iranian petroleum products.
However, Britt and her colleagues are now raising concerns that Yellen and the U.S. Department of the Treasury have delayed in their implementation and enforcement of those sanctions.
“The recent determination on October 11th to expand Executive Order 13902 to persons supporting Iran’s petroleum or petrochemical sectors and the subsequent action on December 3rd are encouraging steps, but now your Department must continue to follow through with rigorous enforcement action,” the letter reads. “Lax sanctions enforcement has enabled certain nations, particularly in Southeast Asia, to openly disregard U.S. sanctions and sell Iranian crude to China. For example, trade data show that Malaysia is exporting oil to China in excess of its own production capacity, a clear indication of involvement in Iranian oil trade. To address these deficiencies, it is critical that Treasury deploys all available enforcement tools and fully engages in monitoring and sanctioning illicit oil transactions involving Iran.”
The letter demands that the Treasury Department take certain actions related to the sanctions no later than Dec. 20, 2024.
Including, but not limited to, a “comprehensive assessment of all foreign financial institutions facilitating Iranian oil exports” and briefings on how the Treasury Department is engaging with foreign governments and utilizing intelligence assets to better enforce the sanctions.
“Senator Britt has been an outspoken and strong supporter of Israel and the importance of reimposing bone crushing sanctions to terminate Iran’s terror network and prevent their ability to fund terrorist proxy groups like Hamas and Hezbollah,” reads Britt’s official press release.
In the press release, Britt also accused the Biden administration of doing too little “to financially constrain Iran,” adding that the country “has profited nearly $80 billion from oil sales since President Biden took office.”
Last December, Britt was also part of a coalition pushing the Biden administration to enforce sanctions on Iranian steel.
Senators Mike Crapo, R-Idaho; Mike Rounds, R-South Dakota; Thom Tillis, R-North Carolina; Bill Hagerty, R-Tennesee; Kevin Cramer, R-North Dakota; and Steve Daines, R-Montana, were the other signatories on Thursday’s letter.
