RELEASE: After Gottheimer’s Strong Advocacy, the Department of Treasury Implements New Sanctions on Iran

Cuts off Iran’s energy revenue stream used to fund terrorism that targets America and its allies

Jun 26, 2024

WASHINGTON, DC — Following months of advocacy from U.S. Congressman Josh Gottheimer (NJ-5), the U.S. Department of Treasury imposed new sanctions on Iran, cutting off Iran’s energy revenue stream.

Earlier this month, Gottheimer led a bipartisan letter with Representatives Mike Lawler (NY-17), Jared Moskowitz (FL-23), and nearly forty of their colleagues, urging the Administration to implement sanctions passed under the Stop Harboring Iranian Petroleum (SHIP) Act and Iran-China Energy Sanctions Act. Both of these bills target Iran’s illicit oil trade, which the country has used to finance terrorism across the Middle East. Iranian oil export revenue has been linked to Hamas’s October 7 terrorist attack on Israel, the Houthis’ ongoing maritime attacks in the Red Sea and the Gulf of Aden, and a targeted strike in Jordan that killed three American servicemembers.

Gottheimer led the Iran-China Energy Sanctions Act and cosponsored the SHIP Act, both of which passed the House with an overwhelming, bipartisan majority in April as part of the Security Supplemental Aid package. Before driving this legislation, Gottheimer questioned U.S. Secretary of Treasury Janet Yellen in February about Iran’s oil trade with China and urged her to enforce sanctions. 

“I’m glad to see that the Department of Treasury followed through on my strong, bipartisan advocacy and took greater action against Iran’s illicit oil trade. After Iran’s unprecedented attack on Israel and as its regime of terror deepens ties to China, we are reminded that they cannot be trusted. Iran has directly, or through their terrorist proxies, killed hundreds of Americans and attacked our bases and our allies in the region,” said Congressman Josh Gottheimer (NJ-5). “All of this is why we must cut off sources of funding for Iran and protect America, our assets, civilians, and allies across the globe. I will always fight to keep America safe and secure through my work on both the House Permanent Select Committee on Intelligence and the House Financial Services Committee. Holding Iran accountable is a critical step for our security and the security of our allies.”


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