Washington, DC – Today, in a letter to all members of the U.S. House of Representatives, National Foreign Trade Council (NFTC) President Bill Reinsch and USA*Engage Vice President Richard Sawaya urged policymakers to oppose H.R. 3662, the Iran Terror Financing Act. The two U.S. business community leaders wrote:
“Multi-lateral sanctions are a critical piece of the Joint Comprehensive Plan of Action (JCPOA) reached between Iran and all the permanent members of the U.N. Security Council. The JCPOA spells out a quid pro quo: Iran meets its commitments regarding its nuclear program and the multi-lateral sanctions will be largely rescinded. Under the JCPOA, U.S. primary and secondary sanctions targeting Iranian non-nuclear activity deemed a threat to national security will remain in force.
“… It is clear that many in Congress remain opposed to the JCPOA, despite the fact that legislative efforts to block it were unsuccessful. At this point, common sense would indicate that U.S. policy focus on verification of the JCPOA’s terms and conditions and Iran’s compliance with them. H.R. 3662, in fact, would move in the opposite direction.
“…USA*Engage and the NFTC urge Congress to honor a deal that is in fact a deal with clearly-articulated scope, limits and reciprocal responsibilities. The other members of the U.N. National Security Council will do so. If Iran chooses to renege, we and they have warrant to renege as well. We urge you to vote against HR 3662 and any other legislation designed to subvert the JCPOA.”
For the full text of the letter, click here.
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About USA*Engage
USA*Engage (www.usaengage.org) is a coalition of small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad. Established in 1997 and organized under the National Foreign Trade Council (www.nftc.org), USA*Engage leads a campaign to inform policymakers, opinion leaders, and the public about the counterproductive nature of unilateral sanctions, the importance of exports and overseas investment for American competitiveness and jobs, and the role of American companies in promoting human rights and democracy worldwide.
About the NFTC
Serving America’s Global Businesses Since 1914 – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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