S 3527
118th Congress
Senate
International Affairs
Iran SDR Exchange Prohibition Act of 2023
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 14, 2023
Read twice and referred to the Committee on Foreign Relations.
Dec 14, 2023
Introduced in Senate
Plain-English summary
Iran SDR Exchange Prohibition Act of 2023
This bill prohibits the Department of the Treasury from engaging in transactions involving Special Drawing Rights (SDR) issued by the International Monetary Fund (IMF) and held by Iran. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)
Treasury must (1) vigorously advocate that each member of the IMF prohibit transactions of SDRs held by Iran, and (2) direct U.S. representatives to the IMF to use the voice and vote of the United States to oppose any SDR allocation to Iran.
What's happening now
Read twice and referred to the Committee on Foreign Relations.
Committees of jurisdiction
1