WASHINGTON – U.S. Senator Jerry Moran (R-Kan.) today welcomed the recent adoption of the Hizballah International Financing Prevention Act (H.R. 2297) into law. Sen. Moran was a cosponsor of the original Senate bill (S. 1617). The legislative language was ultimately passed with broad bipartisan support in the Senate as a substitute amendment to the companion legislation that passed the House of Representatives on December 16, 2015, and became law on December 18, 2015.
“There is no simple remedy to reverse the harms of President Obama’s troubled foreign policy, but this law is a positive action that will help combat threats of newly emboldened and enriched extremists in Iran and a Middle East in alarming disarray,” Sen. Moran said.
These new policies will limit Hizballah’s access to international financial institutions and restricts the group’s ability to fund its global terrorist activities. The law also prescribes strict penalties for any foreign financial institution that facilitates transactions for Hizballah.
Hizballah is a U.S. Department of State designated foreign terrorist organization (FTO). It has operated as a proxy paramilitary force of the Iranian government, conducting terror activities supported by arms and funding provided by the Iranian government. Hizballah was responsible for the July 2012 bus bombing in Bulgaria that killed five Israeli tourists and a Bulgarian. The militant group also provides training for Iraqi Shia militants attacking Western interests in Iraq.