Stop Corrupt Iranian Oligarchs and Entities Act

This bill tells the Treasury Department to give Congress a public report about powerful people and partly state-owned companies in Iran. The report must come within 180 days of the bill becoming law, and it can include a classified section if needed. It must identify top Iranian political figures and oligarchs, describe their wealth, income sources, and business ties outside Iran, and explain how these people connect to Iran’s ruling leaders. It also studies “parastatal” companies in Iran—firms that are at least 25% owned by the state and had at least $2 billion in revenue in 2016—how they are run, who benefits from them, and their business ties abroad. The report must also look at how U.S. sectors like banking, securities, insurance, and real estate may be exposed to these people and companies, and what could happen if the U.S. adds more of them to Treasury’s sanctions list or limits their access to U.S. debt and equity markets.

Key points

• Who is affected: Iranian political elites, oligarchs, and partly state-owned companies; U.S. sectors like banking, insurance, real estate, and securities that might interact with them.
• What changes: Treasury must deliver a detailed report, including names, wealth, income sources, ownership, and foreign business links; it also analyzes possible impacts of new sanctions or financial limits.
• When: Report due within 180 days after the bill becomes law; it will be public, with an optional classified appendix.