Sinema Cosponsors Bill Freezing Iranian Assets

Unrest in the Middle East can ultimately be traced back to Iran's sponsorship of various militant groups and proxies, such as Hamas, Hezbollah, and the Houthis, using money obtained through black market oil sales to China. Senator Kyrsten Sinema (I-AZ) recently cosponsored a new bill strengthening and more forcibly enacting sanctions on Iran to deny them the ability to make money.

The Iran Sanctions Enforcement Act has two key provisions. One is to create a fund to pay for the seizure or forfeiture of property found to be violating US sanctions on Iran or its proxies. Second, the Export Enforcement Coordination Center (E2C2), designed to coordinate efforts in protecting and enforcing export control laws, will be a permanent feature of the government.

"We're stopping the flow of money to Iran – the world's largest state sponsor of terrorism – to support our allies, like Israel, and keep America safe and secure," said Sen. Sinema in her press release.

In October, Sen. Sinema introduced a bill with Senator Tim Scott (R-SC) shortly after the October 7th terrorist attack by Hamas, which saw 1,200 Israelis dead, freezing $6 billion in Iranian assets held in Qatar.

More recently, April saw the passage of the bipartisan SHIP Act into law, which strengthens sanctions on Iranian oil exports, and two additional bills imposing further sanctions on the Islamic Republic and other governments that sponsor Hamas, Hezbollah, or the Houthis.

However, China continues buying Iranian oil extralegally, which Representative Mike Waltz (R-FL) said ultimately favors the Chinese.

"But what is so frustrating to me and so many of us, and I know with President Trump and the Trump Administration, if you take a step back, just four years ago, ISIS was largely defeated, Iran [was] broke, their currency and economy in shambles. In fact, we had reporting back then that Hezbollah, Hamas, and the Houthis were complaining they were not getting any money from Iran," Waltz continued, suggesting China, as the major buyer of Iran's oil, is "the big winner," as Iran's actions force the United States to relocate Pacific assets into the Middle East, giving the Chinese undue breathing room.

"As long as Iran is flush with cash, you will not have peace in the Middle East, and Xi Jinping is smiling all the way to the bank," Rep. Waltz said recently.