creating a red flags be quick to point. mr. szubin reminds me for 15 years iran is not allowed under this agreement to enrich beyond 3.67%. so the concern you've raised only begins to raise those red flags after those 15 years. they are allowed for the speakinseekingis to have a stocf 300 kilograms. that is not enough to provide enough this material for nuclear weapons. >> but after the seeking if they can have more than 300 kilograms so there's no particular limit at that point? >> there is not a limit but, of course, begin we would look at an ever-increasing stockpile and understand the reasons and uses of the. one of the things that is very clear because we have uranium accountancy for 25 years, centrifuge production for 20 years, they have to make a declaration to the iaea of their additional protocols, research and development over the long term, that there will be many, many metrics for measuring what they doing with their program for a very, very long time. >> because my time has expired my last question is, when you look at snap back, it's kind of a sledgehammer approach. given th

financial crimes. mr. szubin has an impeccable record across both republican and democratic administrations of combatting terrorist financing and overseeing our sanctions against foreign adversaries. he is one of the best tools in our toolbox against the likes of iran, isis, and al qaeda. and yet, despite glowing praise from both sides of the aisle, week after week, month after month mr. szubin's confirmation remains in limbo. this sunday will mark the seven-month anniversary of mr. szubin's nomination. in those seven months we have watched isis spread across iraq, syria, and beyond. we've seen iranian funds and weapons continue to flow to terrorists across the middle east. and we have witnessed the tragic attacks in paris, san bernardino, and elsewhere. in an acting capacity, without having received the full support of the united states senate, mr. szubin's status and stature is undermined when he travels ab abroad to persuade allies to cooperate with us in the fight against terrorism, and especially in efforts to go at one of the terroristsa achilles' heels, their funding

throughout this agreement >> thank you very much mr. chairman and within my allotted time secretary szubin you don't expect to stop funding hezbollah so what will you do to combat this? >> unfortunately i do expect to continue to see iran funding hezbollah and their other proxies and it's extremely troubling and it's frankly what i have devoted the bulk of my career to combating. i've been working 13 years on the terrorist financing portfolio because of how serious of a threat i believe that to be. we have a lot of tools at our disposal here and frankly one of the most powerful is the one congress has given us which is that when we sanction iranian terrorist supporters are designation is amplified internationally. what i mean by that is when we name hezbollah financier and money launder everything worldwide not just american banks, any bank worldwide that facilitates transactions for that designated entity faces very severe sanctions from the u.s., sanctions that no bank wants to face and so what we have seen as a practical matter to those congressional sanctions is that our sanctions agai

enforcement network. mr. szubin comes over 14 years of government experience. with the recent deal that is considered here in the senate. and to help assemble with the architecture gives the world's leading state sponsor terrorism. given the context it is important and timely. >> i appreciate your willingness to allow the nominee the acting treasury and the senior positions relating to economic sanctions it is eminently qualified to his children and wife and parents. , taiwan's to underscore a point that my colleagues and i have been making to the chairman and for nine months the committee has failed to kerry noted study to act upon the president's nominees we have not held a single nomination hearings i am grateful for today. for this seventh year of the bush administration and white house control was divided the banking committee held three nominations in the senate nominated more than a dozen coming of the with think this would be a priority. in the past it has ben. led just three weeks after the nomination was sent to the committee. his immediate predecessor took two 1/2 months to cons

oversees the enforcement of sanctions in the department of treasury. mr. szubin worked under the bush administration and obama administration. he is a dedicated, capable professional who has been complimented by members of the banking and foreign services committee. he has been nominated to the secretary of foreign terrorism, critical to the enforcements of the jcpa but his nomination has been on hold for months for no clear and publicly stated reason. adam szubin's nomination is more than one of two dozen national-security related nominations including tom shannon, nominated to be the under secretary of political affairs at the state department, a career foreign service officers, a nonpartisan professional who also would play a critical role in working with our allies ensuring successful enforcement of this agreement. adam szubin, tom shannon and nearly two dozen other nominees have been blocked seemingly for purely partisan reasons in this senate. i call on my colleagues to release their holds and to give the administration the resources and the personnel it needs to do its job in e

secretary blinken and mr. szubin both talked about face proportion and reversible sanctions relief. but they went on to acknowledge the plan to go to the u.n. security council and to make it clear that at the u.n., venezuela, nigeria may get a chance to vote on this deal now but congress ultimately will have a chance to vote in this perhaps five perhaps 10, perhaps 15 years in the future. i hope you can understand the frustration. the real question i have how can the sanctions relief be reversible if the plan is to go to the united nations to reverse all of the multilateral sanctions leaving only the american sanctions in place? >> again i just want to try to make very clear that this is, if it happens international agreement that has other parties to the agreement. that is done through the city council. the secret accounts would take note of any agreement and he they would make clear that it's prepared once iran demonstrates that it is meeting its commitment which would be at some point in future because they would be a series of commitments under the deal. at that point to suspen

in volunteers. once you lose that leverage it's very hard to get back. mr. szubin. >> that's a concern we have been keenly focused on. the truth is the size of the hole that iran is in, across almost any indicator you look at, is far deeper than the relief on the table. even the substantial relief should iran make good on all of the commitments that are being set out by the negotiators we're talking about a hole that could be described in onesons the 200 bill hole, which are the losses we assess they've suffered sense 2012 due do sanctions. in just the energy infrastructure as i mentioned during my opening statement their men stir came out and said they need 170 bill just to rogain their footing in the secretarior alone. the average iranian has seen steady decreases in their standard of living. decreases in their purchasing power. even signs rouhani came into office and the jpoa went into effect. it's going about a tremendous effort for iran to right itself and that is not going to happen overnight. finally, just want to reiterate what department at the secretary linken said. n

appearance before this committee. mr. adam szubin is the acting undersecretary for the office of financial intelligence in the department of the treasury help was previously the director of treasury's office of foreign assets control. we welcome him back and without objection, the witnesses' full prepared statements will be made part of the record. members here will have five calendar days to mitt any statements to you or any questions or any extraneous material for the record. we'll ask you to please summarize your remarks and mr. secretary, if you would begin. >> mr. chairman, thank you very much. it's pleasure to be here. i i want to thank you you and members of the committee for having us here today and give us the opportunity to discuss our efforts to reach a come mensive solution to challenge polessed by iran reside nuclear program. also we speak, secretary of state kerry the secretary of energy, undersecretary of state sherman are in switzerland negotiating with the government of iran over the future of it nuclear program. our goal is to ensure that iran's program is for peaceful pu

to order. we will hear testimony on the nomination of mr. adam szubin, washington d.c. to be the undersecretary of the treasury for terrorism and financial crimes. adam szubin if confirmed will be the third undersecretary of the treasury with the responsibility for the office of terrorism and financial intelligence. the lenders to the secretary reports directly to the secretary. this position we realize is responsible for exercising the dual mission of combating terrorists financing and money laundering while overseeing enforcement of that nation's constantly evolving sanctions program. the undersecretary also receives a number of separate policy, regulatory and enforcement options such as the office of terrorism and financial crimes, the office of foreign assets control in the office of intelligence and analysis, the treasury executive officer for asset forfeiture and the financial crimes enforcement network. adam szubin comes to the undersecretary's office for 14 years of government experience. he has participated in several international negotiations including the president's

? >> mr. chairman, when i was treasury now led by adam szubin is the war command for financial power tools. there is a question as to whether or not we do enough to think about preservation of the tools, use of them aggressively and other contacts and frankly the use of tools by other nationstates like the chinese and russians to extend their reach but also exploit our vulnerabilities. i would say that responsibility lies largely at the treasury department the treasury department in concert with the intelligence community in concert with others but perhaps we need to be more aggressive and forward leaning in terms of the use of the power. one of my concerns with the deal as it is not clear we've considered fully the long-term implications for the use of power in this regard. >> chairman shall become a simple question i would ask undersecretary szubin is an incredibly talented professional to provide either 10 to 15 year contained a planned for the use of economic sanctions against iran when has that nearest euro breakout and unlimited enrichment capacity to plan should be in place to