Increased Pressure in the U.S. to Prevent Iran's Access to Dollars

The Chairman of the House Foreign Affairs Committee in the U.S. has introduced a new law to prevent dollar transactions with Iran. This bill, which has not yet been approved, is the latest effort by Republicans to block any potential access for Tehran to dollars and U.S. financial markets. Ed Royce, the Chairman of the House Foreign Affairs Committee, introduced the bill on April 19 and stated on the committee's website that its purpose is to 'prevent the Obama administration from allowing Tehran access to transactions involving dollars until the Iranian government ceases its illicit activities, such as ballistic missile development and terrorism.' Iran has consistently denied the accusation of 'supporting terrorism,' asserting that its missile program is for defensive purposes. Meanwhile, Iranian officials have threatened Israel with attacks on various occasions. The House Foreign Affairs Committee's website states that the new bill aims to prevent direct dollar transactions, as well as solutions for intermediary transactions or foreign transactions that are linked to dollars. According to Ed Royce, these prohibitions, which actually date back a decade and relate to human rights violations, terrorism support, money laundering, and ballistic missile programs, should remain in place until the President of the United States declares Iran free from dangerous activities. On April 7, two Republican senators opposed to the Iran nuclear deal also initiated efforts to prevent the approval of Barack Obama's plan to facilitate Iran's foreign transactions. A few days later, Paul Ryan, the Republican Speaker of the House, urged Obama to 'specifically' reject the possibility that Iran could gain access to the U.S. financial system or dollars. Paul Ryan stated, 'There is concern' that the U.S. government has 'at least four solutions for Tehran's access to dollars.' All these actions come at a time when Iranian officials have also intensified their efforts to implement the Joint Comprehensive Plan of Action (JCPOA). In Iran, in recent weeks, attacks from hardliners and criticisms from Ayatollah Khamenei regarding the implementation of the JCPOA have increased. U.S. officials and the Iranian government have stated that access to the U.S. financial system was not anticipated in the nuclear agreement. However, the Governor of Iran's Central Bank has warned that 'if recent U.S. actions against Iran lead to a confrontation between Iran and international banks, the nuclear agreement will fail.' The nuclear agreement, despite the open opposition of U.S. Republicans and the Israeli government, was reached last year between Iran and six world powers and was implemented in winter. Despite the lifting of nuclear sanctions against Iran, U.S. sanctions related to missile programs, human rights violations, or what is termed 'state-sponsored terrorism' remain in effect. Shortly after the implementation of the JCPOA, Iran conducted several missile tests, which again fueled criticism from opponents of the JCPOA and efforts against Tehran's financial activities. On the other hand, the Supreme Leader of the Islamic Republic states that negotiations and technology will proceed only if the Islamic Republic increases its 'defensive power.' In this context, Kerry: Iran has received three billion dollars since the beginning of the JCPOA. Rouhani criticized those who say, 'What has the JCPOA done for us?' Why did Zarif and Kerry meet? Kerry after meeting with Zarif: We will continue negotiations about the JCPOA on Friday.