Latest News

Rubio Aims To Block Ex-Im Financing Of Boeing Sales To Iran

Jul 11, 2016 | News

Marco Rubio is launching a GOP effort in the Senate to prevent sales of aircraft to Iran that Republicans fear could be used to facilitate terrorism.
The Florida Republican on Thursday introduced legislation to block any possibility that a pending $17 billion-plus deal between Boeing and the Iranian government could receive financing from the Export-Import Bank of the United States. Fellow Republican Sens. Tom Cotton of Arkansas and John Cornyn and Ted Cruz of Texas co-sponsored the legislation.
Republicans have expressed concern that the planes, the sale of which was made possible by President Obama’s deal with the Iranian government that pulled back some sanctions, could be used by terrorists sponsored by or affiliated by the Iranian government.
Republicans on the House Financial Services Committee scheduled a hearing for Thursday morning to examine that possibility and to discuss three bills aimed at blocking aircraft sales to the Iranian government, including one, introduced by Peter Roskam of Illinois, eliminating the possibility of Ex-Im financing.

Republicans, however, suggested that there is a loophole in the current law: Iran could use a non-Iranian intermediary to buy the aircraft, and that intermediary could then transfer the planes to Iran, all within the law. Rubio’s legislation would eliminate that possibility.

Keep reading here.