To provide for the rescission of certain waivers and licenses relating to Iran, and for other purposes.

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.

• Who is affected: Iranian government and persons, U.S. executive branch, and banks handling these restricted accounts.
• What changes: Ends specific waivers/licenses tied to Iranian funds and bans issuing similar ones going forward.
• When: Takes effect on the date it becomes law.