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HR 3508 112th Congress House

To require the President to impose sanctions on foreign financial institutions that conduct transactions with the Central Bank of Iran.

Introduced: December 2, 2011 See on congress.gov
International Affairs Arms control and nonproliferationCongressional oversightForeign and international bankingIran
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Middle EastNuclear weaponsOil and gasSanctionsTerrorismTrade restrictions
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 12, 2012
Referred to the Subcommittee on International Monetary Policy and Trade.
Nov 22, 2011
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Nov 22, 2011
Introduced in House
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 Latest action January 12, 2012

Referred to the Subcommittee on International Monetary Policy and Trade.

 Plain-English summary Congressional Research Service

Amends the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 to direct the President to: (1) prohibit the opening or maintaining in the United States of a correspondent or payable-through account by a foreign financial institution that has knowingly conducted any financial transaction with the Central Bank of Iran; and (2) freeze and prohibit all property and property interest transactions of such institution if the property and property interests are in the United States, come within the United States, or come within the possession or control of a U.S. person.

Prohibits such sanctions' imposition if the transaction was for the sale of food, medicine, or medical devices to Iran.

Applies such provisions to: (1) financial transactions begun on or after the date of the enactment of this Act, and (2) financial transactions for petroleum or petroleum product purchases through the Bank begun 180 days or more after the date of the enactment of this Act.

Authorizes the President to waive such sanctions for reasons of national security.

 Related & companion bills 1
  • HR 3439 Related bill To require the President to impose sanctions on foreign financial institutions that conduct transactions with the Centr…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Republican 1
R
Schweikert, David
Arizona · Dec 2, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3508: To require the President to impose sanctions on foreign financial institutions that conduct transactions with the Central Bank of Iran.. 112th Congress. Open America. https://openamerica.io/bill/112-HR-3508/
MLA
"H.R. 3508: To require the President to impose sanctions on foreign financial institutions that conduct transactions with the Central Bank of Iran.." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-3508/.
Bluebook (legal)
H.R. 3508, 112th Cong. (2026), https://openamerica.io/bill/112-HR-3508/.
Markdown link
[H.R. 3508: To require the President to impose sanctions on foreign financial institutions that conduct transactions with the Central Bank of Iran.](https://openamerica.io/bill/112-HR-3508/)
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