Royce Introduces New Sanctions Targeting Iran’s Illicit Missile ProgramPress Release
Washington, D.C. – House Foreign Affairs Committee Chairman Ed Royce (R-CA) and Ranking Member Eliot Engel (D-NY) today introduced H.R. 1698, The Iran Ballistic Missiles and International Sanctions Enforcement Act. The bill, also co-sponsored by House Majority Leader Kevin McCarthy (R-CA) and Minority Whip Steny Hoyer (D-MD), targets those involved in Iran’s missile development – including foreign companies and banks.
Upon introduction, Chairman Royce said: “Under the cover of a deeply-flawed nuclear deal, Iran has accelerated its ballistic missile development. These tests – carried out in defiance of the U.N. Security Council – are aimed at perfecting the delivery system for a nuclear warhead. That is the only reason for this costly weapons program. But for too long, Iran has not been held accountable.
“The new administration took a positive step last month when it responded swiftly to an Iranian missile test with sanctions targeting 25 individuals and entities involved in this dangerous program. More, however, must be done. That’s why this bill takes a proactive approach. It shuts Iranian and foreign companies involved in Iran’s missile program – and the banks that back them – out of the financial system. And it will penalize those who trade conventional weapons with Iran in violation of international restrictions. These important steps are critical to countering Iran’s missile program, which poses a growing threat to our national security.”
A detailed section-by-section summary of the bill is available for download here.