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

Motion to reconsider laid on the table Agreed to without objection.

Apr 17, 2024

This bill terminates the presidential waiver that authorized certain sanctions on Iran and Treasury licenses that permitted the transfer of approximately $6 billion in Iranian funds from restricted accounts in South Korea to restricted accounts in Qatar. The bill states this transfer was made to facilitate the release of five U.S. citizens detained in Iran. The bill also prohibits the President from exercising waiver authority related to certain Iranian accounts going forward.

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This bill terminates the presidential waiver of certain sanctions on Iran and the licenses issued by the Department of the Treasury that allowed for the transfer of previously blocked 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). Furthermore, the President may not exercise waiver authority related to certain accounts belonging to Iran.