No Funds for Iranian Terrorism Act

12/15/2023, 4:03 PM

No Funds for Iranian Terrorism Act

This bill requires the President to impose property-blocking sanctions on foreign financial institutions and international financial institutions that process, participate in, or facilitate a transaction involving certain Iranian funds (namely, the approximately $6 billion of Iranian funds that the Biden administration permitted to be transferred from restricted accounts in South Korea to restricted accounts in Qatar to facilitate the release of five U.S. citizens detained in Iran).

Congress
118

Number
HR - 5961

Introduced on
2023-10-16

# Amendments
12

Sponsors
+5

Cosponsors
+5

Variations and Revisions

12/4/2023

Status of Legislation

Bill Introduced
Introduced to House
Passed in House
Introduced to Senate
Senate to Vote

Purpose and Summary

No Funds for Iranian Terrorism Act

This bill requires the President to impose property-blocking sanctions on foreign financial institutions and international financial institutions that process, participate in, or facilitate a transaction involving certain Iranian funds (namely, the approximately $6 billion of Iranian funds that the Biden administration permitted to be transferred from restricted accounts in South Korea to restricted accounts in Qatar to facilitate the release of five U.S. citizens detained in Iran).

Alternative Names
Official Title as IntroducedTo freeze certain Iranian funds involved in the 2023 hostage deal between the United States and Iran, and for other purposes.

Potential Impact
Asia
Bank accounts, deposits, capital
Banking and financial institutions regulation
Congressional oversight
Detention of persons
Foreign and international banking
Foreign property
International Affairs
Iran
Middle East
Presidents and presidential powers, Vice Presidents
Qatar
Sanctions
South Korea

Comments

Recent Activity

Latest Summary12/1/2023

No Funds for Iranian Terrorism Act

This bill requires the President to impose property-blocking sanctions on foreign financial institutions and international financial institutions that process, participate in, or facilit...


Latest Action12/4/2023
Received in the Senate and Read twice and referred to the Committee on Foreign Relations.