House Panel Adopts Bill Targeting Finances for Terrorist Organization
June 26, 2014
AIPAC commends the House Foreign Affairs Committee for adopting critical legislation to cut off the terrorist group Hezbollah from the international financing system. The Hezbollah International Financing Prevention Act of 2014 (H.R. 4411) was authored by Representatives Mark Meadows (R-NC) and Brad Schneider (D-IL), along with House Foreign Affairs Committee Chairman Ed Royce (R-CA) and Ranking Member Eliot Engel (D-NY).
A key provision of the bill would force international financial institutions to choose between doing business with Hezbollah or the United States. The measure would sanction foreign financial institutions that knowingly facilitate the activities of Hezbollah, including through the provision of significant financial services.
Hezbollah, an Iranian-backed terrorist group, poses a direct threat to American and Israeli security, dominates the Lebanese government, fights for the Syrian Assad regime, and possesses an arsenal of more than 100,00 rockets. The group has killed more Americans than any terrorist group other than al-Qaeda, and has recently carried out or attempted to carry out attacks in Bulgaria, Thailand, Azerbaijan and elsewhere.
AIPAC urges the full House to adopt this important legislation. A companion bill has been introduced in the Senate, (S. 2329) by Sens. Jeanne Shaheen (D-NH) and Marco Rubio (R-FL).