Senator Presses Treasury to Finish Iran Sanctions Report
Senate Banking Committee ranking member Tim Scott, R-S.C., asked the Treasury Department last week to tell him when it plans to provide lawmakers with an overdue report on Iran sanctions.
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The report, which is required by the wide-ranging national security bill that President Joe Biden signed into law in April (see 2404240043 and 2404220041), is supposed to identify Iranian assets worth more than $5 million that are blocked by U.S. sanctions, as well as all Iran-related waivers and sanctions exemptions. It was due May 24.
“We are now well past the deadline,” Scott wrote in a letter to Treasury Secretary Janet Yellen. “It is my understanding that a fulsome report has been drafted; however, staff level conversations have not resulted in even an estimate of when this report can be expected." He asked the agency to "provide a date by which I can expect the Treasury Department to comply with the law’s reporting requirement. If you do not anticipate providing the report to Congress in the next 7 days, please explain why the report is delayed.”
Scott said Congress needs the report “to better inform legislation responding to the Iran regime’s financing of its terror activities.” The document “should be a priority for the department,” he said.
A Treasury spokesperson declined to comment.