Press Release ● Defense and National Security
For Immediate Release: 
March 31, 2016
Contact Info: 

Mariel Saez 202-225-3130

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today in response to reports that the Treasury Department is considering allowing the use of the U.S. dollar for business transactions involving Iran: 

“I am concerned about reports that the Treasury Department is considering mechanisms that would allow the use of the U.S. dollar for business transactions involving Iran.  The power and central role of the U.S. banking system remains a critical tool toward combatting global terror finance and illicit trade, and it should remain that way. 

“Given these reports, I want to make clear my concerns that the Administration had indicated that there would be no further concessions beyond those specifically negotiated and briefed to Congress.  I do not support granting Iran any new relief without a corresponding concession.  We lose leverage otherwise, and Iran receives something for free.  Only when Iranian banks fully absolve themselves of involvement in terror financing and missile procurement, when Iranian Revolutionary Guard Corps ceases its saber-rattling against America’s allies, and Iran’s leadership ends its despicable threats against Israel and the Jewish people – only then, perhaps, should the international community consider additional steps with regard to Iran’s reintegration into the global economy beyond concessions pursuant to the Joint Comprehensive Plan of Action.  Until such a time, I think we ought to go no further than fulfilling only our obligations as laid out in the JCPOA, and I look forward to being briefed on what the Administration has planned.”