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S. 2757 114th Congress Senate

Iran Financial System Access Limitation Act of 2016

Official title: A bill to prohibit certain transactions with Iran and to impose sanctions with respect to foreign financial institutions that facilitate such transactions, and for other purposes.

Introduced: April 6, 2016 Introduced by: Dan Sullivan Republican · Alaska See on congress.gov
International Affairs Bank accounts, deposits, capitalForeign and international bankingForeign propertyInternational monetary system and foreign exchange
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IranLicensing and registrationsMiddle EastTrade restrictions
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 6, 2016
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 6, 2016
Introduced in Senate
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 Latest action April 6, 2016

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Iran Financial System Access Limitation Act of 2016

This bill expresses the sense of Congress that Congress must act to preempt any move to grant licenses resulting in Iran's access to the U.S. dollar.

The President may not issue a license to an offshore dollar-clearing entity to conduct a transaction in U.S. dollars with an Iranian financial institution.

A U.S. person may not process (in a U-turn transaction) any transfer of funds to or from Iran, or for the benefit of persons in Iran or the government of Iran, even if the transfer arises from, and is ordinarily incident and necessary to give effect to, an underlying transaction.

The President shall block and prohibit transactions in all property and property interests of any foreign financial institution that serves as an offshore dollar clearing entity to conduct a transaction with an Iranian financial institution in U.S. dollars if such property and property interests are in the United States, come within the United States, or are or come within the possession or control of a U.S. person.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 2757: Iran Financial System Access Limitation Act of 2016. 114th Congress. Open America. https://openamerica.io/bill/114-S-2757/
MLA
"S. 2757: Iran Financial System Access Limitation Act of 2016." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-2757/.
Bluebook (legal)
S. 2757, 114th Cong. (2026), https://openamerica.io/bill/114-S-2757/.
Markdown link
[S. 2757: Iran Financial System Access Limitation Act of 2016](https://openamerica.io/bill/114-S-2757/)
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