No Funds for Iranian Terrorism Act

Received in the Senate and Read twice and referred to the Committee on Foreign Relations.

Dec 4, 2023

This bill requires the President to impose property-blocking sanctions on foreign financial institutions and international financial institutions that process, participate in, or facilitate transactions involving certain Iranian funds. Specifically, it targets approximately $6 billion in Iranian funds that were transferred from restricted accounts in South Korea to restricted accounts in Qatar, in connection with the release of five U.S. citizens detained in Iran.

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No Funds for Iranian Terrorism Act This bill requires the President to impose property-blocking sanctions on foreign financial institutions and international financial institutions that process, participate in, or facilitate a transaction involving certain 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).