Last progress April 1, 2025 (8 months ago)
Introduced on April 1, 2025 by August Pfluger
Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, Ways and Means, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill would cancel certain U.S. government waivers and licenses that let Iran access specific funds held overseas. It orders an immediate end to a past waiver tied to money moved from South Korea to accounts in Qatar, and it cancels any related Treasury licenses. It also blocks the President from issuing new waivers or licenses that would let Iran tap similar accounts in the future.
In short, it tightens sanctions so Iran cannot use these funds now or later. The goal is to close off this money and prevent new permissions that would reopen access.