Sanctions foreign banks that handle $6 billion in Iranian funds moved to Qatar in 2023

§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.

This bill would require the President to freeze the U.S.-linked property of any foreign financial institution that handles transactions involving roughly $6 billion in Iranian funds that the U.S. government allowed to be moved from restricted accounts in South Korea to Qatar in 2023, as part of a deal that freed five Americans held in Iran.^2,3,4 The sanctions could be lifted only if the President certifies to Congress, at least 45 days ahead, that Iran no longer repeatedly supports international terrorism and has verifiably dismantled its nuclear, biological and chemical weapons and ballistic missile programs.³ The bill would also bar the President from using waivers or licenses to give Iran access to those accounts, bar the use of federal funds to make funds available to Iran, and require reports on Iranian internet censorship and on U.S. policy toward Iran.³ The House added several of these provisions through floor amendments, along with nonbinding statements of Congress's views on Hamas, Qatar, the Houthis and humanitarian aid for the Iranian people.^2,3

§2Status

§3How Congress voted

Why this matters: The official count.