Bill > S3049

This bill, the Revoke Iranian Funding Act of 2023, aims to freeze $6 billion of Iranian funds held in Qatar. The key provisions of the bill are: 1. It rescinds any licenses, exemptions, or other authorities granted by the Secretary of the Treasury to allow the transfer of funds from Iran's accounts in Qatar, even if such transfers were for purported humanitarian purposes. 2. It rescinds a waiver determination issued by the Secretary of State on September 8, 2023, which had allowed the transfer of some Iranian funds. 3. It requires the Secretary of the Treasury to report to Congress on all Iranian assets valued over $5 million that are blocked by the U.S., as well as a list of all current licenses and exemptions related to Iran sanctions. The bill is based on the view that Iran is the leading state sponsor of terrorism, and that any funds released to Iran, even for humanitarian reasons, could ultimately be used to finance terrorist activities. Therefore, the bill seeks to restrict Iran's access to these funds in Qatar as a measure to counter terrorism.

Housing and Urban Affairs

https://www.congress.gov/bill/118th-congress/senate-bill/3049/all-info