Rep. Fallon Leads Introduction of Sanctions Enforcement and Financial Institutions Transparency Act (SEFITA)
Rep. Pat Fallon (TX-04) and Rep. Kevin Hern (OK-01) are proud to introduce today the Sanctions Enforcement and Financial Institutions Transparency Act, also known as "SEFITA."
This bill seeks to prevent the Iranian regime from securing funding from international financial institutions, as well as ensure that sanctions are enforced. As previously reported by the Washington Free Beacon, this bill is part of a larger package from the Republican Study Committee aimed at preventing the Biden Administration from securing a second Iran Deal.
"The Ayatollah’s continued oppression of the Iranian people and support for terrorism abroad makes it clear that Congress must ensure the enforcement of sanctions," stated Rep. Pat Fallon. "The Sanctions Enforcement and Financial Institutions Transparency Act would require a twice yearly review of foreign financial institutions suspected of dealing with State Sponsors of Terrorism. Sanctions are only effective if they are implemented. SEFITA will ensure that this happens."
"The Republican Study Committee will not allow the Biden Administration to empower Iran to become a nuclear threat to the entire world," stated Rep. Kevin Hern. "Americans cannot afford another foreign policy failure from this Administration. I'm glad to co-sponsor Rep. Fallon's bill to use every financial weapon available to hold Iran accountable."