PRESS RELEASE: Hezbollah International Financing Prevention Act Passes House of Representatives
Deutch Applauds Colleagues for Swift Passage of Sanctions Targeting Hezbollah's Financial Assets
Today, Congressman Ted Deutch (FL-21), Ranking Democrat on the House Foreign Affairs Committee’s Subcommittee on the Middle East and North Africa, applauded the House of Representatives for its swift passage of legislation to impose new sanctions targeting the financial assets of the terrorist organization Hezbollah. Deutch led the bipartisan effort to introduce and pass the Hezbollah International Financing Prevention Act along with Foreign Affairs Committee Chairman Ed Royce (R-CA), Ranking Member Rep. Eliot Engel (D-NY), Budget Committee Chairman Tom Price (R-GA), and Reps. Mark Meadows (R-NC), Grace Meng (D-NY) and Lee Zeldin (R-NY), all members of the House Foreign Affairs Committee.
“Hezbollah is one of the most dangerous and deadly terrorist organizations in the world and has shown its willingness to attack around the globe. From arms dealing to drug trafficking to money laundering, Hezbollah relies on a sophisticated global financial network to fund its terrorist activities around the world,” said Congressman Deutch. “The Hezbollah International Financing Prevention Act of 2015 will force financial institutions around the world to choose between facilitating Hezbollah’s terror or accessing the American banking system.”
Hezbollah, with the backing of its primary patron Iran, is responsible for numerous attacks on American citizens including the 1983 bombing of the U.S. Marine Barracks in Beirut that claimed the lives of 241 American servicemen. It currently has 100,000 rockets and missiles aimed at Israel. The organization has also been responsible for deadly attacks in Europe and Latin America, and is currently engaged on the ground in Syria supporting the murderous Assad regime.
The United States already classifies Hezbollah and its media-wing, al-Manar, as designated terrorist groups. The Hezbollah International Financial Prevention Act will target Hezbollah’s foreign assets by sanctioning foreign banks that knowingly facilitate transactions on behalf of Hezbollah or its members. The legislation will also require the Administration to report on Hezbollah’s various criminal activity including its significant narcotics trafficking in an effort to crack down all of Hezbollah’s funding avenues.