WASHINGTON – U.S. Senator Mark R. Warner (D-VA) joined a group of eight Democratic Senators today in calling on Secretary of the Treasury Jacob Lew to address a recent decision by the Financial Action Task Force (FATF) that could embolden Iran’s terrorist financing. FATF, the independent body responsible for setting global standards for anti-money laundering and combating the financing of terrorism (AML/CFT), recently suspended counter measures currently in place against Iran concerning its money laundering and terrorist financing activities. In today’s letter, the Senators called on the Treasury Department, as the U.S. representative at FATF, to address their concerns with FATF and prevent any further attempts to reintegrate Iran into the international banking system until the country eliminates its entrenched practice of financing terrorism.

“International financial institutions should not embolden Iran’s illegal activities that threaten the national security of the U.S. and our allies, particularly our major strategic partner Israel – the target of much of Iran’s terrorist financing in the region,” the Senators wrote. “Iran continues to support a swath of terrorist activities by funding its terrorist proxies and partners, including Hezbollah, Hamas, and the Assad regime. As long as Iran continues to fund these terrorist entities, the U.S. must work to strengthen enforcement actions against Iran, including strengthening international sanctions enforcement against individuals and entities involved in terrorist financing. As the U.S. Department of the Treasury represents the United States at FATF, we urge you to address these concerns with FATF and prevent any further attempts to reintegrate Iran into the international banking system, until Iran eliminates its entrenched practice of financing terrorism.”

Senators Richard Blumenthal (D-CT), Bob Menendez (D-NJ), Ron Wyden (D-OR), Michael Bennet (D-CO), Chuck Schumer (D-NY), Cory Booker (D-NJ), and Bob Casey (D-PA) also joined in sending the letter. Full text of the letter is below.