Shortly after the victory of Donald Trump as the president-elect of the United States, an early indication has appeared to show that the Republicans are already gearing up to undo the achievements of the outgoing President Barack Obama in his approach toward Iran. The US House Rules Committee announced on Thursday that it is preparing to debate legislation that aims to block US financing for sale of $25 billion worth of planes to Iran by American aviation giant Boeing.
The bill from Rep. Bill Huizenga, R-Mich., would prohibit US banks from financing the plane sale and would revoke any Treasury Department approval of the sale granted before the legislation is approved, reported The USA Today.
The bill would “prohibit the secretary of the Treasury from authorizing certain transactions by a US financial institution in connection with the export or re-export of a commercial passenger aircraft to the Islamic Republic of Iran.”
Boeing received a Treasury license to sell 80 planes to Iran, under a memo signed in June. Yet, it is still negotiating with Iran for selling the planes to the country’s national airline Iran Air.
Boeing’s European rival Airbus also announced in September that it had received Treasury Department’s approval to sell planes to Iran.
President Obama could veto the legislation if Congress sends it to him. But the bill represents the latest salvo from lawmakers opposed to the nuclear deal negotiated with Iran, which President-elect Donald Trump has criticized and said he would overturn, added The USA Today.
The House Rules Committee would meet Monday to set the terms for how the bill is debated on the House floor. Even if approved in the House, it is unclear whether the legislation could clear the Senate during the lame-duck session of Congress, it added.
Rep. Maxine Waters, D-Calif., told The USA Today that he “strongly opposed” the bill, warning that it could undermine the nuclear agreement with Iran. But Rep. Brad Sherman, D-Calif., who supported the bill, said it didn’t violate the agreement. He suggested that Iran could default on loan payments to US banks.
“Let’s not expose American depositors and banks to the risk that they will not be paid tens of billions of dollars by Iran,” Sherman said.