Senate Passes Bill Targeting Finances for Terrorist Organization

THE AMERICAN ISRAEL PUBLIC AFFAIRS COMMITTEE
AIPAC Press Release
Senate Passes Bill Targeting Finances for Terrorist Organization
November 18, 2015

AIPAC commends the Senate for adopting critical legislation to cut off the terrorist group Hezbollah from the international finance system. The Hezbollah International Financing Prevention Act was authored by Sens. Marco Rubio (R-FL) and Jeanne Shaheen (D-NH), with the support of Senate Banking Committee Chairman Richard Shelby (R-AL) and Ranking Democrat Sherrod Brown (D-OH). In May, the House adopted its version of this legislation. 

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 150,000 rockets and missiles. Hezbollah has killed more Americans than any terrorist group other than al-Qaeda, and has recently attempted attacks, some successfully, in multiple countries including Bulgaria, Thailand, and Azerbaijan.