In order to strengthen efforts to combat Iran’s financing of designated terrorist groups, this bill would require the secretary of the treasury to report to Congress annually on the estimated total assets held by 20 senior Iranian officials, including the supreme leader and president, as well as any equity stakes such persons hold in entities currently under U.S. sanctions, a description of how those funds or equity stakes were acquired and how they’ve been used, and a description of any new trends in anti-money laundering that could be implemented to deter such activities. The secretary would also be required to assess the effectiveness of U.S. sanctions on Iran and to offer recommendations for developing and enforcing new sanctions, should the president order them. The unclassified portion of the report would be posted online in English and in the 3 main languages spoken in Iran.
After the bill was marked up in the House Financial Services Comm. in 9/2016, the committee’s Democrats published a minority view outlining their opposition to the bill: “Given that producing the report required in this bill would have a negative impact on Treasury’s limited resources; divert energy and resources away from investigations related to sanctions; add confusion to the Office of Foreign Assets Control’s regulated public [sic]; potentially undermine continued support for the [7/14/15 nuclear deal] within Iran; and the report’s lack of usefulness as a compliance tool, we oppose this bill.”
1 cosponsor (1R).
Last major action: 9/21/16 passed in House by yea/nay vote, 282–143.