As the Biden administration’s tenure has seen Iran’s oil revenue exceed $80 billion, a Republican senator, Senator Joni Ernst from Iowa, is introducing legislation aimed at expediting federal funding for operations to seize Iranian tankers. The bill, obtained by news agencies, seeks to remove bureaucratic obstacles that have hindered the Department of Homeland Security (DHS) from capturing Iranian oil vessels before they can unload their illicit crude.
The DHS’s investigations bureau, responsible for monitoring Iran’s oil trade, has cited “policy limitations” imposed by the Biden Treasury Department as a barrier to their mission. This situation has allowed Iran’s illegal oil trade to surge by 35% over the past year, providing revenue to Iran’s terrorist proxy groups, including Hamas.
Ernst’s bill is expected to gain support in light of Iran’s backing of Hamas’s attacks on Israelis. Iran’s oil trade, which has grown significantly during the Biden administration, plays a crucial role in funding the hardline regime, enabling it to support groups like Hamas and Hezbollah. Both Democrats and Republicans in Congress have expressed a desire to tighten the screws on Iran’s funding sources.
While U.S. sanctions on Iran’s oil industry remain in place, the Biden administration has not actively enforced them, hoping to encourage Iran to rejoin the 2015 nuclear deal. Lawmakers like Ernst argue that this approach has empowered Iran’s support for terrorism and that Congress should step in to crack down on their flourishing oil trade.
Ernst’s legislation proposes establishing an Iran sanctions enforcement fund within the Treasury Department to facilitate the seizure of Iranian oil tankers, which transport crude to countries such as China, Venezuela, and other hostile regimes. The funds generated from these seizures will be used to support American terrorism victims and reduce the national debt.
The bill includes an allocation of $150 million for investigating Iran’s shipping methods, compensating potential informants, acquiring vessels and equipment, and bolstering operations focused on enforcing sanctions. It also mandates reporting to Congress on each seizure or forfeiture conducted under the bill.
Seizures of Iranian ships have notably slowed down during the Biden administration, despite the presence of intelligence on several Iranian vessels earlier this year.
