Bars Treasury approval of U.S. bank transactions tied to trade with Iran, with exceptions

§1What it does

Why this matters: A plain-English description of the bill as it was voted on, written by us from the official summary and text.

✎ Drafted by AI from the public sources cited. Each sentence links to its source.

The bill would bar the Treasury Department from authorizing U.S. financial institutions to handle transactions connected to importing goods, services or technology from Iran or exporting them to Iran.^2,3,4 Sales of farm goods, food, medicine, medical devices or humanitarian aid that benefit Iran's civilian population would be exempt.^3,4 It would also direct U.S. officials at the International Monetary Fund to oppose IMF aid and allocations of the IMF reserve asset known as Special Drawing Rights to Iran, and would put into law a ban on Export-Import Bank financing for deals involving Iran's government or entities it controls.^3,4 These provisions would end 30 days after the President certifies that Iran has stopped supporting international terrorism and is no longer a primary money laundering concern, or after 10 years, whichever comes first.^3,4

§2Status

§3How Congress voted

Why this matters: The official count.