Rep. Vargas Leads Bipartisan Bill to Hold Iranian Leaders Accountable
Media Contact: Anzueth Barela | (202) 225-8045 | Anzueth.Barela@mail.house.gov
WASHINGTON, D.C. (October 25, 2023) – Today, Rep. Vargas and Rep. Hill introduced bipartisan legislation, the Holding Iranian Leaders Accountable Act, which would expose the finances of Iran’s authoritarian, theocratic leaders and crack down on financial institutions that maintain accounts in connection with those funds.
"Iran has spent decades funding terrorism against the United States and our allies. According to the Central Intelligence Agency and the Director of National Intelligence, Iran positions its proxies to destabilize the Middle East, create chaos, and escalate humanitarian crises.” said Rep Vargas. “We need a bipartisan front to protect our nation, defend our allies, and assist innocent civilians in the Middle East. I'm proud to join my good colleague, French Hill, to propose legislation that will provide transparency into the financial corruption of the Iranian regime and hold them accountable for their support of terrorism."
“The Iranian regime has been funding terror for far too long,” said Rep. Hill. “Hamas is a creature of Iranian money and training, and the recent barbaric terrorist attacks against Israel necessitates retaliation against Hamas’s enabler, Iran. I thank my colleague, Rep. Vargas, for joining me reintroducing this bill that will provide critical insight and cut off financial services to Iran’s most senior government and military officials. We need accountability and transparency into the finances of Iran’s leaders.”
This bill would require the Department of the Treasury to brief Congress on the finances of Iranian leadership and require financial institutions to close accounts connected to these individuals. This legislation will provide a valuable window into the corrupt business practices of Iran’s top kleptocrats and limit their financial holdings which are used to support and sponsor terrorism.
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Congressman Vargas represents California’s 52nd Congressional District which includes portions of San Diego County, and a portion of California’s U.S.-Mexico border. Vargas was first elected to the U.S. House of Representatives in 2012 and is currently serving his sixth term in Congress. He serves on the House Financial Services Committee.