[Congressional Record Volume 164, Number 95 (Friday, June 8, 2018)]
[Extensions of Remarks]
[Page E813]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 THE TREASURY DEPARTMENT OFFICIALS ENCOURAGED BANKS TO VIOLATE THE LAW

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                              HON. TED POE

                                of texas

                    in the house of representatives

                          Friday, June 8, 2018

  Mr. POE of Texas. Mr. Speaker, it appears the past Administration 
would stop at nothing to boost Iran's economy, even if it meant 
violating the law.
  For years, we imposed sanctions on Iran restricting the Ayatollah's 
access to American financial institutions and to the U.S. Dollar.
  During the Iran deal negotiations, we received repeated assurances 
from senior officials at the U.S. Department of the Treasury that the 
U.S. would not give the Ayatollahs access to the dollar.
  But this week, a Senate report indicated that this was a bold-faced 
lie.
  Behind closed doors, the Treasury Department deliberately attempted 
to violate U.S. law.
  In early 2016, the Obama Administration secretly issued a license to 
let Iran sidestep U.S. sanctions so that it could convert billions in 
frozen assets through an American bank.
  Luckily, American banks refused and instead decided to comply with 
U.S. law.
  These former officials must be held accountable for trying to 
convince American banks to skirt U.S. law on behalf of a state sponsor 
of terrorism. Justice must be served.
  And that's just the way it is.

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