Introduced amid reports that the Obama administration was planning to facilitate certain financial transactions on behalf of the Iranian government, this bill would prohibit the president from issuing a license to anyone who conducts offshore transactions involving Iran or an Iranian person, or anyone who supplies U.S. currency for such transactions. The Treasury Dept. would be required to report to Congress, every 3 mos., a list of financial institutions carrying out such transactions and a description of its efforts to prevent such transactions. Furthermore, the president would be instructed to block and prohibit any transactions made by an institution listed in the Treasury Dept.’s report and could impose additional sanctions on the listed institutions as he deems appropriate.
7 cosponsors (7R).
See also: H.R. 4995 of 4/19/16.
Last major action: 4/6/16 referred to Senate Comm. on Banking, Housing, and Urban Affairs.