Bill Huizenga Slams Yellen: ’Madame Secretary I Need You To Take A Closer Look At That’

3 months ago

On Tuesday, Rep. Bill Huizenga (R-MI) questioned Treasury Secretary Janet Yellen on sanctions policy during a House Financial Services Committee hearing.

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Transcript

00:00My time has expired, I apologize.

00:02The gentleman's time has expired.

00:03With that, we go to the gentleman from Michigan.

00:04Mr. Huizinga is recognized for five minutes.

00:07Thank you, Mr. Chairman and Madam Secretary.

00:10Good to see you again.

00:11I want to start with an issue that's important to a sizable population in my district,

00:17in the Battle Creek-Springfield area of Michigan.

00:21That is home to about 5,000 Burmese citizens.

00:27Last year, the Office of Foreign Asset Control, OFAC,

00:30issued a directive that prohibited Americans from providing any such services,

00:34directly or indirectly, that would benefit the Myanmar oil and gas enterprise,

00:40also known as MOGI.

00:42Unfortunately, and actually, I'd like to, Mr. Chairman,

00:45submit a copy of that for the record.

00:47Without objection.

00:50Last year as well, in consultation with the State Department, Treasury,

00:55you determined that MOGI is a political subdivision of the military junta in Burma.

01:01So, in other words, the Burmese government.

01:03The MOGI generates a billion U.S. dollars annually

01:08and by as far as their largest foreign revenue for Burma and, by extension, the junta.

01:15Unfortunately, late last year, Treasury stopped short of listing the MOGI

01:19as a specially designated national, which, as you know,

01:22not only blocks the assets, but then puts other countries on notice

01:27that they shouldn't be doing business with this designated entity.

01:31So, Madam Secretary, why hasn't Treasury used its authority to block the MOGI

01:37from receiving financial support from around the world,

01:41which is funding an abuse of government?

01:43And, frankly, what I'd like to know is,

01:45what would you have to say to my constituents

01:48and what am I supposed to tell these folks,

01:50many who have fled the Civil War in Burma,

01:54the genocide that's happening, the continued bombings that are happening

01:58for their family members that are still in these horrific conditions?

02:04Well, we absolutely are committed to denying the Burmese military

02:10sources of funding that they are using to suppress...

02:18So why would you leave them off that particular list?

02:23Well, we did announce sanctions relative to MOGI,

02:27and we issued a directive that prohibits U.S. persons

02:32from providing financial services to MOGI for its benefit.

02:36I understand, but, again, you left them off a list that would have toughened those up.

02:40And, frankly, in response to that last week,

02:42along with my colleagues from this committee,

02:44Mrs. Wagner and Mr. Sherman,

02:47we introduced a bipartisan Brave Burma Act,

02:51which requires the president to determine on an annual basis

02:55whether to impose stronger blocking sanctions on MOGI,

02:59on the Myanmar Economic Bank,

03:02and foreign persons operating in the jet fuel sector of the Burmese economy.

03:07That's where those bombings are coming from,

03:09and jet fuel is a critical piece to the junta

03:15continuing the genocide that's there.

03:18So, Mr. Chairman, clearly I believe more work needs to be done,

03:23and I look forward to having this bill actually be part of a markup.

03:28But, Madam Secretary, I need you to take a closer look at that,

03:32because we, frankly, need your support.

03:34Well, I promise that I will do that,

03:36and we certainly are concerned with the situation in Burma.

03:41Contemplate additional sanctions actions,

03:44and we'll work with you on that.

03:46I'm not going to get into this right now,

03:48but we have seen some of those sanctions slip in other areas,

03:50like Iran and Russia, and I'm concerned about that,

03:54and we can continue that conversation.

03:56I do, and I'm not expecting you to know details about this.

04:00This was a letter we sent yesterday,

04:03and, Mr. Chairman, I'd like to submit that for the record as well.

04:06Without objection.

04:07The letter is concerning significant problems

04:09with the enforcement of U.S. sanctions against the Taliban officials.

04:14In May, the Special Inspector General for Afghanistan,

04:17also known as SIGAR,

04:19highlighted that since the failed withdrawal from Afghanistan

04:22in August of 2021,

04:24$10.9 million in U.S. taxpayer money

04:29has been paid to the Taliban in the form of taxes, fees, duties, and utilities.

04:36First of all, is there any reason to doubt the IG and his report?

04:42I have not had a chance to review it.

04:47Okay, the report was from May.

04:50The report was from May.

04:51Our letter was from yesterday.

04:53So, I would appreciate a quick response to our inquiry on this.

04:59I think this is a significant problem that we have,

05:02and I know in D.C. we talk about trillions and billions,

05:06but $10.9 million of U.S. taxpayer dollars being used

05:11to pay the Taliban government taxes, fees, duties, and et cetera

05:16seems outside the bounds, Mr. Chairman.

05:18I know my time is yielded, or my time is up,

05:21but I do appreciate the opportunity to continue this conversation with you, Madam Secretary.

05:25I yield back.

Bill Huizenga Slams Yellen: ’Madame Secretary I Need You To Take A Closer Look At That’

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